Grieg Seafood has an ambition to grow harvest volume to at least 150 000 tonnes by 2025, to become a cost leader in all regions where the company operates and to reposition the company along the value chain from a pure supplier of salmon to become an innovative partner for selected customers.  

For Grieg Seafood to reach its ambitions, the company needs to strengthen integration between sales and farming operations, and from 2021 Grieg Seafood establish its own, fully integrated sales organization in Norway and internationally. Consequently, current Ocean Quality joint venture with Bremnes Seashore AS will be dissolved.

“We have set ourselves ambitious goals. We will grow, be more effective and take a more active role throughout the value chain. A crucial part of our downstream strategy is to further strengthen the cooperation between our production network and the sales organization. Fully integrating sales and marketing with current operations, enables us to optimize upstream activities with local customer demand”, says Andreas Kvame, CEO of Grieg Seafood.

He continues, “I would like to thank Bremnes Seashore for a very good collaboration over the last decade, and we look forward to continue our co-operation in the areas of feed procurement and post smolt production. I would also thank all Ocean Quality employees for doing a great job over many years, making a solid foundation both companies will build on going forward”.

Grieg Seafood’s new sales organization will partly be based on the Ocean Quality sales force. All personnel in Ocean Quality North America, Ocean Quality UK and Ocean Quality USA will from 2021 be employed in Grieg Seafood. In Norway, Grieg Seafood will gradually build a new sales organization, as Bremnes Seashore will take over ownership of the Norwegian organization Ocean Quality AS, as well as Ocean Quality Shanghai.

In order to facilitate the transition, the sales partnership will continue as today until December 31. 2020. It will be totally dissolved and the separation implemented by June 2021.

For further enquiries, please contact:

Andreas Kvame, CEO
andreas.kvame@griegseafood.com
+47 907 71 441

Atle Harald Sandtorv, CFO
atle.harald.sandtorv@griegseafood.com
+47 908 45 252

About Grieg Seafood ASA:
Grieg Seafood ASA is one of the world's leading salmon farmers, targeting 100 000 tonnes of harvest (GWT) in 2020. Our farms are in Finnmark and Rogaland in Norway, British Columbia and Newfoundland in Canada and Shetland in the UK. Our headquarter is located in Bergen, Norway. Grieg Seafood ASA was listed at the Oslo Stock Exchange in June 2007. More than 800 people are employed by the company globally.

Sustainable farming practices are the foundation of Grieg Seafood's operations. The lowest possible environmental impact and the best possible fish welfare drive economic profitability. Towards 2025, we aim to harvest 150 000 tonnes, to achieve cost leadership in each region and to evolve from a pure salmon supplier to an innovation partner for selected customers. To learn more, please visit www.griegseafood.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act