Moscow, 23 October 2017. Russian Aquaculture (“Russian Aquaculture” or “the Company"), Russia’s largest aquaculture company, announces the successful acquisition of a second smolt production facility in Norway, Olden Oppdrettsanlegg AS.
The facility utilises a flow-through system and can produce up to 2 million Atlantic salmon and trout smolt annually. Russian Aquaculture expects to receive the first shipment of smolt from the facility in 2018. The production facility has operated since 1995 and has been one of the main suppliers of Russian Aquaculture for years.
The Company views this acquisition as an important step towards building an efficient vertically integrated holding and achieving the Company’s strategic goal of producing up to 25-30 thousand tonnes of red fish by 2025.
Together with Villa Smolt, which Russian Aquaculture acquired earlier this year, the Company now has its own smolt to cover a material part of its supply needs, significantly reducing operating costs and biological risks. On top of that, this acquisition shows that the Company is implementing its strategy aimed at increasing operational efficiency and maintaining profitability in the long-term.
Russian Aquaculture plans to keep the highly professional personnel currently managing the facility and plans to develop the asset while strictly adhering to veterinary rules and continuing to act in a social responsible way. This acquisition will also enable the Company to gain significant experience in the smolt farming business, which may be further utilised in the construction of a smolt plant in Russia.
Ilya Sosnov, CEO of Russian Aquaculture, said:
“In a relatively short period of time we have made two important steps towards securing the stable supply with our own smolt. I am confident that this investment will strengthen our market position as well as decrease operating costs and biological risks. We are very happy to have acquired this first-class asset, and welcome the opportunity to work together with Norwegian colleagues who are among our longest-standing partners.”
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.
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
Russian Aquaculture’s core strategic focus is on growing its aquaculture business. The Company currently owns salmon and trout cultivation rights for 30 sites for the farming of salmon and trout. The total potential production volume for these sites is around 50 ths tonnes of red fish.
The Company’s long-term development strategy involves the creation of the largest vertically integrated player in the aquaculture market, including production of own fry, primary processing and distribution of the Company’s own products.
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