Strategic Alliance Targets Mediterranean

The alliance is based on three major pillars, the announcement reads:

“The first refers to fish feed supplies by Biomar that may cover current and future needs of Dias in the upcoming years. The value of the supply agreement is approximately eur 30 Mn p.a with preferential terms of pricing, payment and deliveries covered by the quality certification offered by a worldwide leader in the fish feed business.

Besides the above agreement Biomar has proceeded to the signing of a pre agreement for the acquisition of 25,17 per cent of the shares of Zoonomi S.A. from Dias for a price of eur 2,5 Mn. The transfer of the shares will be completed following the necessary permissions taken by the relevant authorities. Dias S.A has a control over Zoonomi S.A. since 2007, holding 51 per cent of its shares.

The second part of the deal refers to the common activities in the field of research and development aiming at the production of new fish feeds and the use of alternative raw materials which could lower significantly the cost of feed, reduce the time for fish production and improve the health and quality of the fish.

Last the alliance refers to the cooperation for the potential common exploitation of opportunities that may arise for both companies in the Mediterranean aquaculture business.

Biomar Group is one of the leading fish feed suppliers worldwide with production facilities in 7 countries. Biomar produces feed for more than 20 fish species and its products are sold in more than 50 countries. Biomar is own by the listed Danish group Schouw & Co which has an annual turnover of eur 1,3 Bn. In Greece Biomar has a corporate history of 20 years and since 2001 operates its own factory in the industrial zone of Volos from where it provides fish feed supplies for the Greek as well as the markets of East Med, the Balkans and the Black Sea area.

The management of both companies is confident that this agreement constitutes the first step for a broader cooperation aiming at their further strengthening in the Mediterranean area.”