Bergen, Norway-based salmon farming company Mowi has announced plans to rebuild its Kritsen smoked salmon processing plant in Landivisiau, France, which was destroyed by a fire in July 2018. It has also chosen the French market for the next stage of its MOWI brand rollout.
In a statement, the board of Mowi ASA said it has decided to build a highly-automated and modern smokehouse at the same site to replace the original plant.
“France is one of the biggest salmon markets globally and the board's decision ensures the continuation of Kritsen's and Mowi's long tradition of producing high-quality smoked products in the country,” it said. “France is also one of the most sophisticated markets with a wide range of premium products, and the high-end market for smoked salmon in France continues to grow, led by branded products. Therefore, the board has decided that the next launch of the MOWI brand will take place in France."
In relation to the rebuilding of Kritsen, Mowi will record a restructuring provision for industrial and social reorganization of approximately EUR 19 million (USD 21.2 million). Capital expenditures for the new factory are estimated at EUR 23 million (USD 25.6 million), while expected insurance refunds amount to approximately EUR 17 million (USD 18.9 million).
