Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


Image: Norcod / FIS

High Liner Foods invests $5 million in Norcod AS

Click on the flag for more information about Canada CANADA
Monday, March 04, 2024, 01:00 (GMT + 9)

High Liner Foods Incorporated (TSX: HLF) ("High Liner Foods" or "the Company"), a leading North American value-added frozen seafood company, today announced it has committed to make a US$5 million investment in Norcod AS ("Norcod"), a leader in responsible and sustainable cod aquaculture based in Trondheim, Norway and listed on the Euronext Growth exchange on the Oslo Stock Exchange (NCOD.OL).

In exchange for the $5 million investment, High Liner Foods will receive an approximately 10% share ownership in Norcod and nomination rights for a director, currently Paul Jewer, to serve on Norcod's Board of Directors. The Company's investment, which will be made from cash from operations, forms part of a larger capital raise by Norcod that is expected to close in March 2024.

Source: Norcod

"Today's investment is a small but important step forward in our strategy to position High Liner Foods for the next chapter of leadership and growth. In a dynamic global seafood environment, we want to ensure that our Company and its stakeholders can benefit from the opportunities across the full value chain in highly sought after species like cod," said Paul Jewer, President and Chief Executive Officer at High Liner Foods.

Mr. Jewer continued, "We are impressed by Norcod's leadership team and their proven production record and expertise.  In making this long-term investment, we welcome the opportunity to support, and help shape, the bold, innovative work underway to lead the future of sustainable cod farming as a source of premium seafood for North America and markets around the world. It is a great complement to our existing diversified supply of cod, and ongoing support for the future of Atlantic seafood."

High Liner Foods believes that Norcod provides attractive investment characteristics and that participation in the private placement provides an investment opportunity for its shareholders to gain exposure to the growing cod aquaculture market. Norcod has proven production across three cycles and operates 6 farming sites with licenses secured to reach a 26,000 mt production capacity. Norcod is geographically focused in central and northern part of Norway with optimal biological conditions for aquaculture. Norcod is able to avoid seasonal dependency and deliver fresh, premium, products throughout the year. 

<-- Source: Norcod

(This news release contains forward-looking statements that are based on a variety of factors and assumptions. Specific forward-looking statements in this document include but are not limited to statements with respect to: impact on supply of product, timing and completion of investment, which may be impacted by factors including Norcod operations, market conditions and conditions to complete the private placement. Actual results could differ materially from the conclusion, forecast or projection stated in such forward-looking information. As a result, we cannot guarantee that any forward-looking statements will materialize. Forward-looking information is based on management's current estimates, expectations and assumptions, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Except as required under applicable securities laws, we do not undertake to update these forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, whether as a result of new information, future events or otherwise.)

Source: High Liner Foods

editorial@seafood.media
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
United Kingdom
Apr 12, 21:00 (GMT + 9):
IN BRIEF - The Scottish Pelagic Industry-Science Data Collection Programme has published its 2023 Annual Report
China
Apr 12, 07:40 (GMT + 9):
Pacífic Northeast squid price index: Japanese Common Squid (Todarodes pacificus)
Malaysia
Apr 12, 07:00 (GMT + 9):
AquaChile Introduces Fresh Chilean Salmon to Malaysia
Germany
Apr 12, 07:00 (GMT + 9):
BLUU Seafood opens Europe's first pilot plant for cultivated fish and prepares for market entry
Spain
Apr 12, 07:00 (GMT + 9):
Spain to Launch €40 Million Aid Package for Fisheries and Aquaculture Processing Sector
United Kingdom
Apr 12, 07:00 (GMT + 9):
UK fishing opportunities worth over USD 1216 M
United States
Apr 12, 07:00 (GMT + 9):
Influence of Climate on Young Salmon Provides Clues to Future of World’s Largest Sockeye Run
India
Apr 12, 07:00 (GMT + 9):
India has set a seafood export target of US$12 billion by 2025
United Kingdom
Apr 12, 06:50 (GMT + 9):
Compensation scheme announced to support pollack fishers
Norway
Apr 12, 06:50 (GMT + 9):
Sawdust becomes environmentally friendly fish feed
Thailand
Apr 12, 06:00 (GMT + 9):
A Global Culinary Adventure Arises: THAIFEX - Anuga Asia 2024
Peru
Apr 12, 01:40 (GMT + 9):
IFFO's Marine Ingredients Markets Trends: Peruvian quota announced
China
Apr 11, 07:00 (GMT + 9):
China's shrimp imports: prices decreased
Israel
Apr 11, 07:00 (GMT + 9):
Steakholder Foods Brings 3D-Printed Plant-Based fish to the U.S.
Netherlands
Apr 11, 07:00 (GMT + 9):
The Zalmhuys group acquires Anova Seafood



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Spain boosts consumption of Norwegian skrei
Spain The following is an excerpt from an article published by InfoRetail: Imports increases by 149% in volume and 128% in value. Source: El Corte Inglés In the first two months of the year, Spa...
China's shrimp imports: prices decreased
China In the first two months of 2024, shrimp imports into China increased in both volume and value compared to the same period last year, but the average price still decreased. According to data from the ...
Market situation for Norwegian herring and mackerel
Norway Decline for herring Norway exported 62,778 tonnes of herring worth NOK 1.1 billion in the first quarter. The value fell by NOK 139 million, or 11 per cent, compared to the first quarter la...
Transaction agreement Marel - John Bean Technologies Corporation
Iceland Marel announced it has entered into a transaction agreement with John Bean Technologies Corporation (“JBT”) related to JBT’s previously announced intention to make a voluntary t...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2024 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER