New production line for BioMar
BioMar is to invest more than €50m in a new production line that will expand the company's capacity in Norway by 30%.
The new production line will expand the company's output capacity in Norway by 140,000 tonnes of fish feed per year, or by more than 30% relative to its current production capacity of about 430,000 tonnes. The company is the world's third-largest producer of feed for salmon and generates annual revenue of more than €1.2bn.
"Expanding our capacity is a major strategic move intended to consolidate our position in Norway. The Norwegian market is the most advanced of its kind in the world, and it's extremely important for us to have a strong position there. The overall Norwegian market is 1.7 million tonnes today, so our capacity expansion equals just over 8% of the total market consumption. Considering the attractive historic and expected market growth, this year projected at 6% or about 100,000 tonnes, there is an ongoing need for capacity expansion," explains BioMar CEO Torben Svejgård.
The new production line is expected to be operational in 2016. Based on preliminary analysis, the expansion is expected to take place at the existing plant at Karmøy, but the further planning process may lead to a different conclusion.
"We completed a major expansion of our large plant at Myre in northern Norway only three years ago, and current considerations involve the pros and cons of having an independent new unit as opposed to optimising overall operations at an existing plant. We constantly focus on process enhancement, and our new production facilities will be among the most advanced in the world complete with state-of-the-art technology," said Mr Svejgård.
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