Vietnam’s Anova Corporation has set up a joint venture with Norwegian fish feed producer EWOS Group, a division of Noway’s Cermaq ASA, to operate and expand a plant in the Mekong Delta.
Under an agreement EWOS will invest US$6 million in Anova's fish feed plant in Long An, representing 51% of the total value of the joint venture company.
“Cermaq is entering operations in the Vietnamese feed market,” it said on its website, adding its 51% stake allowed it control of both the Board of Directors and the management team.
The plant was due to begin operations with the new status as a joint venture on 1 February with an output of 60,000 tonnes of fish feed, focusing on catfish, which is widely farmed in the Cuu Long (Mekong) Delta, said Anova CEO David Serene.
The company will develop growth models to help customers monitor their fish performance against expectations, Serene said. Feed management strategies will be worked out with customers to make the feeding regime most effective, he added.
“We plan to expand our business vertically with the vision to become the first Vietnamese food supplier that can provide consumers completely traceable, healthy and eco-friendly swine and fish products,” Anova said of its strategy via its website.
The deal also marks a double shift for Cermaq - not only is it entering Vietnam but it is also the feed market for farmed catfish and will transfer its experience in salmonid farming to this.
Vietnam farms some 1.8 million tonnes of catfish annually and much of it exported. Catfish farming and Vietnam are both tipped to grow strongly in the coming decade.
“Vietnam is the fish feed market for the future. We are well prepared, and look forward to employ our competence also outside the scope of salmonids,” said Kjell Bjordal, EWOS’s COO.
