22nd Jan 2008 07:02
Origin Enterprises Plc22 January 2008 Origin Enterprises plc and Austevoll Seafood ASA commence discussions to combine their European fishmeal and fish oil businesses. Origin Enterprises plc ("Origin") and Austevoll Seafood ASA ("AUSS") announcethat they have entered exploratory discussions with a view to combining theirrespective fishmeal and fish oil operations within Europe. These discussionswill be subject to final agreement, confirmatory due diligence, mutuallyacceptable legal documentation, respective Board approvals and relevantconsents. Origin's fishmeal and fish oil activities are carried on through wholly ownedoperations in Ireland and the United Kingdom in addition to its 50% interest ina manufacturing facility in the Shetland Islands. AUSS carries out its Europeanfishmeal and fish oil operations through its wholly owned subsidiary WelconInvest AS. Fishmeal and fish oil are specialised protein and energy raw materialsprincipally supplied to the aquaculture feed industry. The key demand driver forthese raw materials is the growth in global aquaculture. It is expected that by2030 global aquaculture output will exceed world capture fish. The EU is adeficit region for fishmeal and fish oil as it imports 70% of its requirementsprincipally from South America. Ends Enquiries Origin Enterprises plcBrendan Fitzgerald, Chief Financial Officer Tel: +353 1 612 1259 Murray ConsultantsJoe Murray Tel: +353 1 498 0300 Tel: +353 86 253 4950Nominated AdvisorDavy Corporate FinanceIvan Murphy, Director Tel: +353 1 614 8928 About Origin Enterprises plc Origin Enterprises plc is a leading Agri-Nutrition and Food company listed onthe IEX and AIM markets of the Irish and London Stock Exchanges. TheAgri-Nutrition division, through its manufacturing and distribution operationsin Ireland and the United Kingdom, has leading market positions in the supply offeed ingredients, crop nutrition and specialist marine proteins. The Group'sFood division, comprising sales, marketing, distribution and manufacturingactivities in Ireland, has leadership positions in ambient food across theretail, food service and manufacturing sectors. Website: www.originenterprises.com About Austevoll Seafood ASA Austevoll Seafood ASA is listed on the Norwegian Stock Exchange and hasoperations in Norway, Peru and Chile. AUSS is one of the largest producers offishmeal, fish oil, canned and high concentrated Omega 3 products (marineproteins) in the world. Website: www.auss.no This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Origin