Grieg Seafood ASA (GSF) is continuously working to increase the smolt size. This enables reduced production time in sea, which in turn yields improved biology, increased harvest volume, and reduced cost per kg.

In relation to the above-mentioned strategy, GSF has extended the co-operation with Bremnes Seashore AS into post-smolt production. Vest Havbruk AS is also participating in this project. The three parties acquire 1/3 ownership each in Tytlandsvik Aqua AS. The target is to develop the company into a 700 to 1000 gram smolt producer.

Tytlandsvik Aqua owns finish grade property in Rogaland, and licenses for post-smolt production. The company is now starting the construction of a smolt production facility with an annual production capacity of 3000 tons. This capacity, in addition to own smolt production, will enable GSF Rogaland to reduce production time in sea down to 12 months.

The construction, budgeted to MNOK 300, is planned to be completed in 2019.  Later It will be possible to expand the production facility's capacity with an additional 6000 tons, which then will yield an annual production capacity of 9000 tons for the production facility.

The entire smolt production from Tytlandsvik Aqua will be utilized by GSF Rogaland and Bremnes. So saying, this is a parallel strategy to GSF Finnmark's co-operation with Norway Royal Salmon regarding Nordnorsk Smolt AS.

For further information, please contact:
- CEO Andreas Kvame (Mobil: +47 907 71 441)
- CFO Atle Harald Sandtorv (Mobil: +47 908 45 252)

For more information, visit www.griegseafood.com