SSC Extension of Funding Facilities

The Scottish Salmon Company has today agreed an extension to its funding facilities with DnB NOR Bank ASA, by an additional £40m.  This additional funding is required to enable the Company to fulfil its long term strategy to increase and balance out its total production volume to around circa 40,000 tonnes per annum, by 2015/2016.  The Company is aiming to do this through a mixture of organic growth in its current farming facilities, and new development of virgin sites.  In addition to farming capacity increases, the Company will require to make significant investments through its value chain infrastructure including freshwater, and processing.

The new facility is an extension to the Company's current loan arrangements with DnB NOR Bank ASA and is provided on the same terms and covenants. 

Further Information: www.scottishsalmon.com
Robert Wilson (robert.wilson@scottishsalmon.com)

The Scottish Salmon Company

The Scottish Salmon Company is the leading independent producer of Scottish salmon, providing superior salmon to both the local and international markets. The Scottish based and operated company is a fully-integrated seafood company, built around the provenance, taste, freshness, sustainability and health benefits of its salmon.

The Company is engaged in all stages of the value chain from smolt production to harvesting, processing and sales. Operating from over 40 sites on the Hebrides and West Coast of Scotland, the company currently employs over 350 staff. The Scottish Salmon Company currently produces about 24,000 tonnes of Scottish salmon annually, accounting for about 20% of Scottish production.