Markets Archive

Two leading Norwegian salmon farmers, Grieg Seafood and SalMar, have announced higher harvests for the first quarter of this year. In a preliminary update, Grieg Seafood says output between January and March should total 16,900 tonnes, against 13,600 tonnes in Q1 last year. This is made up of 9,600 tonnes and 5,200 tonnes from the…

Norway Royal Salmon (NRS) announced at the weekend that it plans to sue its parent, NTS, for breach of contract. The move is seen as another extraordinary development in an increasingly bitter saga between two businesses in the same family. It follows the NTS decision last week to block a proposed merger between NRS and…

The NTS aquaculture group has moved to prevent a controversial merger between its two subsidiaries, Norway Royal Salmon (NRS) and SalmoNor. Last week NRS said it had raised NOK 1.9bn (£164m) to finance the purchase. NTS is about to be acquired by fellow salmon farming giant SalMar, which has already declared it is against such…

Bakkafrost has said that its first quarter harvest from its Scottish operation will be appreciably lower this year. In a trading update released today, output from Scottish Salmon Company sites – now part of the Bakkafrost group – will total just 4,000 tonnes between January and March, against 7,000 tonnes 12 months ago. The Faroe…

Norway Royal Salmon has raised NOK 1.9 billion (£164.5m) which the board plans to use towards financing the purchase of SalmoNor. Both are part of the NTS aquaculture group but Norway Royal Salmon (NRS) is at odds with its parent board and with SalMar which is poised to take over NTS. The move is being…

Salmon producer SalMar last night extended the shareholder acceptance period for its bid for the NTS aquaculture group. No reason was given. The NOK 15bn (£1.3bn) offer was due to have expired on Friday afternoon, but shareholders now have until 4.30pm (CET) on Friday 29 April to make up their minds. SalMar says it has received…

Mowi Scotland saw a significant improvement in its financial performance last year, the company reveals in its annual report today. The 2021 operational EBIT or operational profit totalled €77.2m (£65.5m) against €46m (£39m) in 2020. The improvement, says Mowi, was due to improved cost and volumes on the back of better biological performance as well…

The NTS board has called for the postponement of the proposed merger between two of its subsidiaries, Norway Royal Salmon and SalmoNor. It is also calling for an investigation into the plan. SalMar, which has offered NOK 15.1 billion (£1.25bn) to take over the NTS Group, is not directly involved in this widening rift between…