Food and Beverage Business
Finance

Grieg Seafood makes a substantial investment in a value-added facility

Grieg Seafood makes a substantial investment in a value-added facility Fish & Seafood Food and Beverage Business

Grieg Seafood, a prominent Norwegian salmon farming business, is investing Nkr130m ($12.4m) in a new value-added facility near Oslo airport. This new facility will process salmon from Grieg’s regions of Finnmark and Rogaland in Norway. The strategically located facility will allow for smooth logistics to the markets by truck, boat, train, or air freight.

The annual processing capacity of the new factory will be 10,000 to 12,000 tonnes, with the potential to increase to 20,000 tonnes in the future. Grieg Seafood plans to start processing its fish in the new facility in the summer of 2025. This marks the company’s first in-house value-added factory, signaling a significant step towards getting closer to the customer and the market.

Erik Holvik, the chief commercial officer, expressed that with the new facility, Grieg Seafood aims to create high-quality products using the most modern equipment available and significantly reduce CO2 emissions from product transportation worldwide. The company aims to process 25% of its global production volume by 2026.

“We have worked with external partners to process some of our fish. We will continue these partnerships. With the new processing facility, we see opportunities for additional partnerships with salmon farmers and customers,” added Holvik.

The article continued by stating that Grieg Seafood had reported a loss in EBIT in its fourth-quarter results for 2023, following challenges such as parasite spiro, winter ulcers, and jellyfish that impacted operational efficiency. Despite these challenges, the company concluded its full year with a total operational EBIT of NKr780m.

 

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