Cermaq looks for investment in pangasius farm in Vietnam.

Cermaq could look to invest in pangasius farming in the future, Tore Valderhaug, the Oslo-listed aquaculture group’s chief financial officer said.

In his address at the North Atlantic Seafood Forum on Thursday, Valderhaug said Cermaq has looked at the possibility of investing in Vietnamese pangasius farming, but that will first concentrate on building up its joint venture (JV) feed plant in this country. Read more of this post

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Feed Production Begins In Viet Nam for EWOS

Cermaq has signed a joint venture agreement with the local partner, Anova Corporation, in Viet Nam. Through its feed operations, EWOS, Cermaq is entering operations in the Vietnamese feed market.

 

Through acquisition of shares and a targeted emission, Cermaq has obtained 51 per cent of the shares in the joint venture company. Cermaq will control the Board of Directors and the management team. Mr Rune Vamråk, supply chain director of the Norwegian company EWOS AS, is appointed as general manager for the company.

By this agreement EWOS enters the feed market for farmed Pangasius. The broad competence the company has within salmonids can be successfully transferred to Pangasius, a white fish that has enjoyed a tremendous market growth in Europe and the US over the last decade. Pangasius eats feed made mainly from plants, and can supply significant volumes of animal protein to the global food market.

The venture partner Anova Corporation is established in Vietnam with a plant in the Long Anh province. The plant which will be transferred to the joint venture company as a part of the transaction has an annual capacity of 85,000 tonnes. EWOS Vietnam has considerable ambitions for the Vietnamese market and the goal is to utilize the full capacity of the plant within the first operating year. The company has engaged the highly esteemed Pangasius expert Mr Serene, for the initial phase of market building.

The farming of Pangasius in Viet Nam is around 1.8 million tonnes. The major part of this volume is exported as fillets, reaching around 600,000 – 700,000 tonnes annually. Farming of Pangasius is predicted the highest growth globally of farmed species during the next decades.

“Viet Nam is the fish feed market for the future. We are well prepared, and look forward to employ our competence also outside the scope of salmonids,” says Kjell Bjordal, COO for Cermaq’s feed operations, EWOS.

Through its establishment in the Vietnamese market EWOS can contribute with its competence related to food safety and sustainability. Furthermore EWOS will utilise its research based knowledge within fish nutrition, raw materials and food production to produce a more cost efficient feed than what is currently available in the Vietnamese market.

“We believe that the farming of Pangasisus can be strengthened through optimising the feed, focusing on feed technology, nutrient requirements, and fish health,” Mr Bjordal emphasises.

The agreement that gives Cermaq a limited access to an extensive market represents a first investment close to NOK 6 millions.

Source: The Fish Site

EWOS venture with Anova for aquafeed business in Mekong Delta

Long An-based Anova Corporation, maker of veterinary drugs and animal feed, has set up a joint venture with Norwegian fish feed producer EWOS Group to operate and expand a plant in the Cuu Long (Mekong) Delta Province.

Under an agreement concluded last Friday, the foreign partner will invest US$6 million in Anova’s fish feed plant in Long An, representing 51 per cent of the total value of the joint venture company.

Anova CEO David Serene said the plant will begin operations with the new status as a JV on February 1 with an output of 60,000 tonnes of fish feed, focusing on catfish, which is widely farmed in the Cuu Long (Mekong) Delta.

The company will develop growth models to help customers monitor their fish performance against expectations, he said. Feed management strategies will be worked out with customers to make the feeding regime most effective, he added.

EWOS deputy managing director Einar Wathne said his company will also work with customers to provide information on the feed to fish buyers in the US and Europe, supporting fish sales in high quality markets.

source: Vietnam News

 

Another article From vnbusinessreg.com

Norway’s Cermaq has today signed a joint venture agreement with the local partner, Anova Corporation, in Vietnam. Through its feed operations, EWOS, Cermaq is entering operations in the Vietnamese feed market.

Through acquisition of shares and a share issue, Cermaq has obtained 51 percent of the shares in the joint venture company. Cermaq will control the Board of Directors and the management team. Mr. Rune Vamråk, supply chain director of the Norwegian company EWOS AS, is appointed as general manager for the company.

By this agreement EWOS enters the feed market for farmed Pangasius. The broad competence the company has within salmonids can be successfully transferred to Pangasius, a white fish that has enjoyed a tremendous market growth in Europe and the US over the last decade. Pangasius eats feed which is made mainly from plants, and can supply significant volumes of sustainable marine protein to the global food market.

The venture partner Anova Corporation is established in Vietnam with a plant in the Long Anh province. The plant which will be transferred to the joint venture company as a part of the transaction has an annual capacity of 85,000 tonnes. EWOS Vietnam has considerable ambitions for the Vietnamese market and the goal is to utilize the full capacity of the plant within the first operating year. The company has engaged the highly esteemed Pangasius expert Mr. Serene, for the initial phase of market building.

The farming of Pangasius in Vietnam is around 1.8 million tonnes. The major part of this volume is exported as fillets, reaching around 600,000 – 700,000 tonnes annually. Farming of Pangasius is predicted the highest growth globally of farmed species the next decades.

– Vietnam is the fish feed market for the future. We are well prepared, and look forward to employ our competence also outside the scope of salmonids, says Kjell Bjordal, COO for Cermaq’s feed operations, EWOS.

Through its establishment in the Vietnamese market EWOS can contribute with its competence related to food safety and sustainability. Furthermore EWOS will utilize its research based knowledge within fish nutrition, raw materials and food production to produce a more cost efficient feed than what is currently available in the Vietnamese market.

– We believe that the farming of Pangasisus can be strengthened through optimizing the feed, focusing on feed technology, nutrient requirements, and fish health, Mr. Bjordal emphasizes.

The agreement that gives Cermaq a limited access to an extensive market represents a first investment close to USD 6 millions.

EWOS enter VN aquafeed with a venture with Anova

Ew os, the feed division of Oslo-listed Cermaq, has signed a joint venture agreement with a Vietnamese pangasius feed producer.

The news will see Ewos set up and own 51 percent of a local joint venture for an initial sum of $6 million (€4.5 million).

The remaining stake will be owned by Vietnamese producer Anova Corporation, which produces feed for the pangasius industry at a factory in Long Anh.

Under the agreement, Anova will transfer its plant, which has an annual capacity of 85,000 metric tons, to the new joint venture company.

“Ewos Vietnam has considerable ambitions for the Vietnamese market and the goal is to utilize the full capacity of the plant within the first operating year,” the group said in a statement.

The company said it had hired “pangasius expert Mr. Serene” for the initial phase of market building.  With Asia accounting for more than 90 percent of the world’s total aquaculture production, large feed companies have been looking to expand in the region. In July, Skretting acquired Vietnam’s fourth largest feed producer Tomboy Aquafeed while in October, Ewos said it was looking to expand in Vietnam.

Within the aquaculture sector, low-value whitefish such as pangasius acccount for the biggest volumes, with production in Asia topping 8.7 million metric tons in 2008 — compared to 4 million for shrimp, 2.8 million for salmonoids and 3.1 million for high-value whitefish. It also has the strongest growth rate, growing by 10 percent a year, far above the other sectors’ growth rates of 3 to 5 percent.

Vietnam itself produces an estimated 1.8 million metric tons of pangasius a year, according to Ewos. Most of this is exported as fillets, reaching around 600,000 – 700,000 metric tons a year.

“Vietnam is the fish feed market for the future. We are well prepared, and look forward to employ our competence also outside the scope of salmonids,” Ewos Chief Operating Officer Kjell Bjordal said in a statement.

Using its experience, Ewos aims to make the production of feed in Vietnam “more cost efficient” than it currently is, the group said.

“We believe that the farming of pangasisus can be strengthened through optimizing the feed, focusing on feed technology, nutrient requirements, and fish health,” Bjordal said.

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