Nutreco is investing EUR27m to upgrade its fish feed plant in Averøy, Norway.
The investment consists of an upgrade of the grinding facility, a new intake line and expansion of both storage capacity and operation premises. The investment will enable Skretting, Nutreco's fish feed business, to meet future market demand for high quality feed for salmon. The Norwegian fish feed market has grown by an average of 8% a year from 2006 to 2010.
Knut Nesse, Nutreco's Chief Operating Officer Aquaculturesaid: "This investment clearly demonstrates our commitment to support the growth of aquaculture in Norway and to maintain our market leader position in this fish feed market. Growth is expected to continue at a high rate in the coming years, especially in salmon feed. This upgraded plant allows us to realise the benefits of the introduction of our MicroBalanceTM technology, which enables us to replace the limited raw materials fish meal with vegetable alternatives. The production capacity of the Averøy plant will be increased with 20,000 tons. Skretting intends to invest in additional capacity in the near future, based on the expected growth in the market."
Skretting is a salmon feed producer with a global market share of about 36%. It has 20 fish feed factories and produced approximately 1.3 million tonnes of fish feed in 2010, of which about 72% was feeds for salmon and seawater trout.
