Norway-based Lerøy Seafood Group is considering setting up a new processing plant in its domestic market.
The company is weighing up plans to have a facility in Båtsfjord in northern Norway.
Go deeper with GlobalData
Local media suggests the factory would command investment of NOK400m (US$49m).
Henning Beltestad, Lerøy Seafood’s CEO, was coy about the plans when approached by just-food. He refused to be drawn on what type of fish would be processed at the factory, when it could open, how many staff would be employed there and what impact opening a new plant in Norway would have on the company’s existing production network. The company has two value-added processing sites elsewhere in Norway.
He said: “There has not been done any final decision to build this factory. We are considering [it] and will make a final decision [in the] second half of 2018.”
In 2016, Lerøy Seafood generated revenue of NOK17.29bn and operating profit of NOK2.84bn. Including fair-value adjustments of biological assets, operating profit was NOK4.31bn. Net earnings stood at NOK3.52bn.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAccording to the company’s annual report, it is “one of the largest seafood exporters in the world”. The group says it is one of the world’s largest
producers of Atlantic salmon and trout, as well as being the biggest catcher and processor of whitefish in Norway.
In 2016, Lerøy Seafood made just over 59% of revenue from the EU, with 16% of sales coming from its home market. A further 13% was generated in Asia.
