Norway Pelagic

Norway Pelagic ASA

Type	Publicly traded, limited company
Industry	Seafood, food processing
Headquarters	Ålesund, Norway
Key people	Sigurd Teige (Chairman) Tor Vikenes (CEO)
Products	Wild caught atlantic herring, atlantic mackerel and capelin, production and distribution
Revenue	NOK 2,617 mill (2010)[1]
Net income	NOK 85 mill (2010)[1]
Total assets	NOK 1,708 mill (2010)[1]
Total equity	NOK 874 mill (2010)[1]
Employees	429 (2010)[1]
Website	www.norwaypelagic.no

Norway Pelagic (OSE:NPEL) is a producer and exporter of pelagic fish, such as atlantic herring, atlantic mackerel and capelin, caught in the seas close to Norway. Total raw material processed is on annual basis about 50% of total landings of pelagic fish in Norway processed for human consumption. Norway Pelagic ASA is listed on the Oslo Stock Exchange and its head office is in Ålesund, Norway.

Operations

Norway Pelagic has ownership interest in 15 production plants along the Norwegian coast. Fully controlled plants are located at Sommarøy, Lødingen, Bodø, Liavåg, Selje, Måløy (3 plants), Kalvåg, Florø, Austevoll and Karmøy. Partly controlled plants are Modolv Sjøset AS, Træna (66%), Sir Fish AS, Sirevåg (60%) and North Capelin Honningsvåg AS, Honningsvåg (50%). In addition the company owns 25% of the shares of Shetland Catch Ltd, Shetland, UK. The company main operations are production of roundfrosen and fillets of atlantic herring and roundfrosen atlantic mackerel. Other products are atlantic horse mackerel, atlantic mackerel fillets, and roe from atlantic herring and capelin. Almost entire production is for export and the most important markets are Japan, Russia, Ukraine and Germany.

In 2009, Marine Stewardship Council certification was awarded to Norway Pelagic for its Chain of Custody Standards.^[2] The certified fisheries are Norwegian Spring Spawning Herring, the North Sea Herring and the North East Atlantic Mackerel. This certification guarantees that all Norway Pelagic products of these species originate from sustainable fisheries.

History and main events

Norway Pelagic ASA was established in 2007, through a merger between Domstein Pelagic, Global Fish, Bergen Fiskeindustri, Koralfisk and Bernt Hansens Eftf. One year later, in June 2008, the company was listed on the Oslo Stock Exchange. In 2009 Norway Pelagic acquired Fryseriet in Lødingen, a producer of herring products and capelin. In 2010, Norway Pelagic also acquired Emy Fish and Brødr Myhre, two plants in Måløy specializing in herring fillet products.

In July 2010, Austevoll Seafood ASA bought Domstein ASA's shares, and became the largest shareholder. In June 2011, a merger between Austevoll Fisk AS and Norway Pelagic AS was completed to effectively integrate Austevoll's pelagic operations for human consumption, into Norway Pelagic, with compensation through a direct share placement.^[3]

In August 2011, the company head office was relocated from Vågsøy municipality to Ålesund.

References

1. ^ ^{a b c d e} "Norway Pelagic ASA - Annual Report 2010". http://project.vbook.no/Norway-pelagic-annual-report. Retrieved 23 March 2011. 
2. ^ "Triple certification for norwegian fisheries". MSC. April 30, 2009. http://www.msc.org/newsroom/news/triple-certification-for-norwegian-fisheries?fromsearch=1&isnewssearch=1&b_start:int=230. 
3. ^ "Completion of merger between Austevoll Fisk AS and Norway Pelagic AS". Norway Pelagic ASA. June 29, 2011. http://www.newsweb.no/newsweb/search.do?messageId=285712. 

External links

• Official homepage