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Codfarmers ASA signs 3-year cod juveniles agreement with Grieg Cod Juveniles AS.

NORDIC BUSINESS REPORT-20 June 2007-Codfarmers ASA signs 3-year cod juveniles agreement with Grieg Cod Juveniles AS(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Norwegian cod farming company Codfarmers ASA said on Wednesday (20 June) that it has awarded Grieg Cod Juveniles AS a three-year contract to supply small cod juveniles.

The agreement covers the supply of 2m small juveniles per year and secures Codfarmers a sufficient supply of cod juveniles until its own production starts.

Codfarmers on Tuesday announced a similar supply agreement with Marine Invest AS.

"The plan is to use these small juveniles from Grieg to produce large juveniles (plus 100 grams) in our own facility at Morkvedbukta outside Bodo already this fall," said Oystein Steiro, CEO of Codfarmers.

No financial details were disclosed.

Codfarmers, headquartered in Bodo in northernmost Norway, is one of the world's largest farmed cod producers with an estimated production capacity of 20,000 tons of cod per year at its two clusters in northern Norway. The company reported revenues of NOK33.43m in 2006. Codfarmers is listed on the Oslo Stock Exchange and traded under the ticker COD.

One British pound (GBP) is worth approximately 11.98 Norwegian kroner (NOK).

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Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:4EXNO
Date:Jun 20, 2007
Words:211
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