Moscow, 17 November 2017. Russian Aquaculture (“Russian Aquaculture” or “the Company"), Russia’s largest aquaculture company, announces that it has acquired an option to purchase a 40% equity stake in Tri Ruchya, a primary fish-processing company in the Murmansk region.
Tri Ruchya has modern, high-quality equipment to process up to 25,000 tonnes of red fish per year, as well as a refrigerated warehouse and developed infrastructure, and is conveniently located on transport routes near the Company’s new and existing farms. The facility meets Russian Aquaculture’s high standards for infrastructure, product quality, health and safety standards, and has worked with the Company in primary fish processing for the last two years.
This transaction will give Russian Aquaculture guaranteed access to processing facilities, which will increase the Company’s operational efficiency and reduce operational risks. This investment is an important step in the Company’s strategy to create a vertically-integrated holding and achieve its strategic goal of producing over 30,000 tonnes of red fish by 2025. The acquisition of an option to buy a stake in a fish-processing business underscores the Company’s policy of maintaining profitability at its current high level in the long term.
Ilya Sosnov, CEO of Russian Aquaculture, said:
“We welcome this opportunity for greater cooperation with our partner Tri Ruchya, which has proven to be professional and reliable. Access to proven primary processing facilities is an important element in our production chain, because it guarantees high quality and timely processing of fresh fish in transparent and comprehensible conditions in the long term. Moreover, the transaction will allow the Company to receive a share of Tri Ruchya’s profits, which will have a positive impact on Russian Aquaculture’s financial performance.”
Denis Denisov Irina Logutenkova
Tel.: +7-985-410-3544 Tel.: +7-910-438-4843
ABOUT RUSSIAN AQUACULTURE
Russian Aquaculture is one of the leaders in the production of Atlantic salmon and trout in Russia. Development of aquaculture is one of the Company’s strategic priorities.
The Company’s core business areas are:
- Commercial farming of Atlantic Salmon in the Barents Sea in the Murmansk region
- Commercial farming of trout in lakes of the Republic of Karelia
- The Company currently owns cultivation rights for 29 sites for the farming of salmon and trout
The Company’s long-term development strategy aims to make it the largest player in Russia’s aquaculture segment, including production of own fry and primary processing of the Company’s own products.
This press-release may contain projections or other forward-looking statements with regards to future events or the Group’s future financial performance. Forward-looking statements contain such words as “expected”, “as seen”, “projected”, “according to estimates”, “planned”, “will be”, “could”, “can”, “perhaps” and variations of such expressions (including the negative connotations thereof). Recipients are cautioned that any such statements are only projections and that actual results or developments may differ materially from those projected in any such estimates or other forward-looking statements. The Group shall not update this press release to revise projections or include information about events and other developments that occurred after the publishing of this document. There are various factors that may cause actual results to differ materially from those anticipated in such forward-looking statements of this press release; this applies, in particular, to the general economic situation, the risks associated with doing business in Russia, the sudden market changes in the business sectors of the Group, and many other risks specific to the Group and its activities.