Morten Broberg has become the new CEO of TripleNine Thyborøn A/S, a subsidiary of Esbjerg, Denmark-based marine ingredients producer TripleNine.
Broberg joined TripleNine in August 2019 as purchasing director and, in his new role, will continue to serve on the company’s international management team, TripleNine said in a press release.
“Morten Broberg is the right person to lead TripleNine Thyborøn A/S,” TripleNine CEO Jes Bjerregaard said. “With his extensive experience within the industry from purchasing, sales, production, and management, the company and our employees will be in really good hands. I know that Morten Broberg will continue to run the company's positive development forward in this challenging and internationally competitive industry.”
The Thyborøn plant is capable of producing 300,000 metric tons (MT) of raw material, based off daily production of approximately 3,000 MT of fish daily.
“I am very happy to take on the role as CEO of TripleNine Thyborøn,” Broberg said. “Together with my colleagues at TripleNine, I will continue the good work of building and developing a profitable company, as well as strengthening the positive ties with the local and international suppliers of the company in this constantly changing industry. It is also very important to me that we can maintain a good and healthy workplace in Thyborøn for many years to come.”
In its 2020 year-end results, TripleNine reported revenue of DKK 2.16 billion (USD 344.8 million, EUR 290.4 million) and profits before tax of DKK 148 million (USD 23.6 million, EUR 19.9 million) in 2020, but Bjerregaard said Thyborøn plant “is still not at a satisfactory level.” Further complicating the company’s short-term future, the company expects a smaller supply of raw material entering Denmark in 2021.
“On top of a tough competitive environment, this creates a huge pressure on the margins, which once again puts strong demands on the group's ability to act proactively and to be adaptable,” Bjerregaard said. “Despite the turbulent market conditions, a positive result is expected for 2021 – though at a significantly lower level than in 2020.”
In October 2020, Ålesund, Norway-based Koppernæs purchased additional shares in TripleNine Group A/S, and now owns 92 percent of the company.
"With a clear, long-term strategic ownership in place and a highly enhanced platform, we are well-equipped for the future. We will continue to strengthen our core business in the future by improved efficiency and investment programs in all units, and by further developing the cooperation with both our customers and our suppliers,” Bjerregaard said at the time.
Photo courtesy of TripleNine
