Norwegian fish-farming technology provider AKVA Group ASA announced today that it will continue to reduce costs at its operations in Chile by cutting about 40 jobs.
The reduction will be employees of AKVA's INTECH business that supplies fish-farming technology to Chilean farms.
"The market situation in Chile has deteriorated over the last months and the outlook is demanding. Based on this AKVA Group has decided to implement further cost-reducing measures in Chile to adapt the cost level to a lower activity level in this market," AKVA said.
AKVA Group, headquartered in Bryne, Norway, is a provider of aquaculture technology, including software, sensor systems, feed systems, recirculation systems and cage systems. The company reported revenues of NOK932 million (US$142 million) in 2007.
