Norway-based salmon company Marine Harvest has unveiled plans to open new plants in China and Sweden this year.
Oslo-listed Marine Harvest made the announcement in its first-quarter earnings release, which also mentioned the firm had received permission to build a new smolt facility in the Sandora region of Norway.
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With the Chinese market now re-opening to Norwegian salmon producers, the company is seeking to open a factory in Shanghai, adding to six existing sites spread across Asia: one each in Taiwan, South Korea and Vietnam, plus three in Japan. An opening date for the China plant was not specified.
In the third quarter, Marine Harvest Sweden will open a new facility for the production of fresh skin-packed products in Glommen, located on the west coast.
And in Norway, the company said it plans to build the smolt facility to give an annual production capacity of approximately 1,800 tonnes. Construction is expected to begin sometime during 2018 and is estimated to be completed in 2020. The plant will replace the existing factory at Storbukt.
Meanwhile, in the US, Marine Harvest said it has signed a lease to build a 9,800 square-meter plant in Medley, Florida, to replace the existing site. Construction is scheduled to be finished before the end of the year.
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By GlobalDataIn terms of financials, it was not so rosy a picture for Marine Harvest’s first-quarter earnings, which showed across-the-board declines as prices in some regions retreated from ”record” levels.
Revenue decreased 3.4% to EUR862m (US$1.02bn) from a year earlier, while operational EBIT slumped more than 28% to EUR157.6m. Net profit was down almost 16% at EUR179.1m.
