Cermaq invests in Vietnamese fish feed production

CERMAQ, the Norway-based owner of Mainstream and EWOS, has signed a joint venture agreement with a Vietnamese partner, Anova Corporation. This means that Cermaq will be able to become involved in the Vietnamese feed market through its feed company, EWOS. Cermaq now owns 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, has been appointed as general manager for the company.

The agreement allows EWOS to enter 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 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. Read more...

This blog is written by Martin Little The Aquaculturists, published and supported by the International Aquafeed Magazine from Perendale Publishers.