Garðabær, Iceland-based processing equipment manufacturer Marel has entered a strategic partnership with Fosnavåg, Norway-based seafood-processing, -handling, and -cooling equipment provider MMC First Process.
Marel announced on 6 February that the new partnership will enable both companies to drive efficiency and sustainability in fish handling, processing, and water treatment. The two companies “fill complementary gaps,” allowing for a complete product offering that gives customers a “one-stop shop” experience for a full seafood-processing solution.
“The partnership with MMC First Process opens new opportunities for both companies and our customers,” Marel Executive Vice President Fish Olafur Karl Sigurdarson said in a release. “We are excited about the potential the partnership brings to the market, being able to offer full-line solutions.”
The two companies said that the new partnership will offer benefits to both customers looking to purchase seafood-processing equipment and consumers who are purchasing products made using the equipment.
“This collaboration goes beyond mere enhancements in customer efficiency; it aspires to elevate the consumer's journey by providing trust, transparency, and sustainability,” the companies said.
The new partnership will allow the companies to optimize resource utilization, resulting in lower energy consumption, decreased production costs, and higher profits for equipment customers, while consumers get seafood produced with a reduced environmental footprint, Marel added.
“The collaboration is a testament to our commitment to revolutionizing the seafood-processing industry,” Sigurdarson said. “Together, we are poised to set new benchmarks in innovation, efficiency, and sustainability, elevating seafood processing to the next level.”
In addition to equipment exchanges, the partnership will offer a new set of processing software that will allow customers to collect and collate data, adding to the potential efficiency of any seafood-processing line.
“This strategic partnership with Marel signifies our dedication to providing cutting-edge solutions and unmatched expertise in fish handling,” MMC First Process CEO Petter Leon Fauske said. “Together, we will reshape the future of seafood processing, delivering excellence to the industry and safer, sustainable, and traceable seafood for consumers.”
The new partnership comes the day before Marel is scheduled to publish its 2023 results on 7 February, amid an ongoing takeover bid from Chicago, Illinois, U.S.A.-based John Bean Technologies Corporation (JBT).
The latest takeover bid is JBT’s third attempt at purchasing Marel after the latter company nixed an initial bid in November and then denied a second bid in December. The latest attempt by JBT values Marel at EUR 3.60 (USD 3.86) per share – a 14 percent increase over its first offer. In total, the value of the deal – which would also see JBT taking over Marel’s existing net debt and lease liabilities – is just shy of EUR 3.6 billion (USD 3.87 billion).
Marel shareholder Teleios Capital has been critical of JBT’s repeated takeover attempts, alleging the process has been fraught with conflicts of interest.
“It has long been clear to us that Marel’s international potential has been stifled by a beleaguered ownership structure and system of governance that do not befit an enterprise of its size and pedigree,” Teleios said.
Repeated attempts by SeafoodSource to contact Teleios about its criticisms have gone unanswered.
Photo courtesy of Marel
