Norwegian companies SalMar ASA and Aker ASA have confirmed the establishment of the joint company SalMar Aker Ocean AS.
In August this year, SalMar and Aker announced they had entered into a strategic partnership to create a new global offshore aquaculture company. In filings on the Oslo Stock Exchange Oslo Børs on 15 November, 2021, the companies said SalMar Aker Ocean will combine their salmon production experience and operate within offshore fish farming, including offshore and semi-offshore.
According to the notice, the new company will initially focus on the establishment of offshore fish farming operations in Norwegian waters. As a first step, SalMar Aker Ocean said it will collaborate with Norwegian authorities, the aquaculture industry, and other interested parties, to establish a regulatory framework for offshore fish-farming, which does not yet currently exist in Norway.
SalMar and Aker (through its wholly-owned subsidiary Aker Capital AS), will eventually own 66.6 percent and 33.4 percent of the new company, respectively. The parties also aim to list SalMar Aker Ocean on a relevant stock exchange. The partnership previously advised that in the longer term, it will target growth in international markets.
Former chairman of the board at SalMar, Atle Eide, will chair the board of directors of SalMar Aker Ocean, while Gustav Witzøe, Kjell Inge Røkke, Øyvind Eriksen, and Torger Rød take on the positions as board members.
The company has already started the process for the recruitment of a new CEO. SalMar Aker Ocean’s current CEO, Olav Andreas Ervik, will step down from the position in the spring of 2022. He will continue as an advisor to the company.
"SalMar Aker Ocean and its owners look forward to join forces developing offshore aquaculture as an important contributor to the future supply of healthy seafood globally," SalMar ASA CEO Gustav Witzøe said. "The efficient closing process underlines SalMar's and Aker's dedication to be at the forefront of ensuring sustainable growth in the aquaculture industry.”
Photo courtesy of SalMar
