Cermaq

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Cermaq ASA
Type Allmennaksjeselskap
Industry Seafood, food processing
Founded 1995
Headquarters Oslo, Norway
Key people Rebekka Glasser Herlofsen (Chair), Jon Hindar (CEO)
Products Farmed salmon, trout and coho; production of fish feed
Revenue NOK 11.634 billion (2011)[1]
Operating income NOK 1.006 billion (2011)[1]
Profit NOK 793 billion (2011)[1]
Total assets NOK 10.357 billion (end 2011)[1]
Total equity NOK 6.159 billion (end 2011)[1]
Owners Mitsubishi Corporation (91%)
Employees 4,047 (end 2011)[1]
Website www.cermaq.com

Cermaq is one of the world's leading companies in farming of salmon and trout, with operations in Norway, Canada and Chile. In 2013 the farming business had sales of around NOK 5.2 billion, and a total harvest volume of 142,300 tonnes. Cermaq's feed business unit EWOS was sold in 2013. In October 2014, Cermaq ASA became a fully owned subsidiary of Mitsubishi Corporation. The company has its headquarters in Oslo, Norway.

In October 2014, the acquisition of the firm was completed by Mitsubishi for $1.4 billion.[2]

Operations[edit]

Cermaq produces Atlantic salmon, coho and trout. In Canada the operations are on Vancouver Island with offices located in Campbell River and Tofino. In Norway the company has operations in Nordland and Finnmark while the operations in Chile are around Puerto Montt. The total production of salmon was 142,300 tonnes in 2013.

In addition Cermaq has minority ownership in grain wholesaler Norgrain (72,5%).

History[edit]

Cermaq was founded as Statkorn Holding when the commercial division of Statens Kornforretning (now Statens Landbruksforvaltning) was demerged and made a limited company in 1995. The company operated grain wholesaling. In 1996 the company started to purchase NorAqua, a fish food producer, and in 1998 Cermaq started purchasing fish farms. In 2000, the government sold the first 20% of the company. Through the 2000s, Cermaq has sold its original grain wholesaling divisions and entered the seafood and fish food market. It was listed on Oslo Stock Exchange in 2006.

References[edit]

  1. ^ a b c d e f "Cermaq". Retrieved 16 August 2012. 
  2. ^ Mitsubishi gets 91 percent of Cermaq in bid. Reuters, 21 October 2014

External links[edit]