Oslo Børs The major players
Breaking down the
THE Norwegian Stock Exchange, known as the Oslo Børs, is home to most of the western world’s largest aquaculture companies. Here is Fish Farmer’s brief run-down of the larg- est companies quoted on the exchange – aquaculture’s Big Five.
1. Marine Harvest Marine Harvest ASA calls itself ‘the
world’s leading seafood company and the largest producer of farmed salmon’. Its current market value of 10,376 mil- lion Norwegian Kroner (£1.2 billion) is almost twice the value of its main rivals. Marine Harvest’s main fi sh farms are in Norway, the UK, Chile and Canada and it harvested almost 80,000 tonnes in the second quarter of 2011. Overall it ex- pects to harvest a total of 335,000 tonnes of salmon in 2011.
Marine Harvest shares started the year at 6 NOK, rising to 7 NOK in April-May but have now fallen to 2.8 NOK. The current CEO is Alf-Helge Aarskog, who was appointed in early 2010 after previously heading up Lerøy Seafood Group. His arrival was preceded by the appointment of Ole-Erik Lerøy, founder of Lerøy Seafoods, as Chairman of Ma- rine Harvest in January 2010. Marine Harvest has recently moved its headquarters from Oslo to Bergen. Its dominant shareholder is Gerevan Trading – a company controlled by the Norwegian-born oil tanker and shipping tycoon John Fredriksen.
Big5 2. Cermaq Bard Mikkelson
The owner of the fi sh feed company, EWOS and fi sh farms that operate under the Mainstream name, just holds onto second place in terms of its market value and is currently worth 5,850 million NOK (£670 million).
Shares started the year at 80-90 NOK and rose in value to 113 NOK in June, before falling to a current value of only 63 NOK. Its main fi sh farms are in Norway, Canada and Chile, after it sold its Mainstream UK operations to Morpol in 2010. Mainstream sold 97,000 tonnes of salmon in 2010. EWOS has fi sh feed plants in Norway, Chile, Canada and the UK.
Cermaq is unusual in that 43.5% of its shares are owned by the Norwegian State, in particular by the Ministry of Trade and Industry. The chair of the board is Bard Mikkleson, while another signifi cant board member is Åse Aulie Michelet, ex-CEO of Marine Harvest. It has its HQ in Oslo.
Cermaq’s long-serving CEO, Geir Isak- sen, has just left the company and has been temporarily replaced by Tore Val- derhaug, who is also CFO for the group.
3. Lerøy Seafood Group
Alf-Helge Aarskog Fish Farmer September/October 2011 18
The Bergen-based Lerøy Seafood Group (LSG) was originally set up by the Lerøy family and at times has been in second place in the Norwegian salmon farm-
www.fishfarmer-magazine.com
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