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Norwegian net manufacturer expands in Spain

NORWAY
Wednesday, April 16, 2014, 04:20 (GMT + 9)

The Mørenot Group has acquired 20 per cent of the shares in the company Delta Aqua Redes, based in Tarragona (Spain), which still belonged to the Greek giant Andromeda Group. The Spansh company manufactures and services all types of nets for fish farmers in the Mediterranean area and also nets for tuna farming, an industry that has shown rapid increase in some of the countries around the Mediterranean. According to what CEO in Mørenot Aquaculture and Chairperson in Delta Aqua Redes, Bente Lund Jacobsen, Mørenot now owns 100 per cent of the company, which today has a turnover of EUR 3 million and employ 25 people. In 2011 the Mørenot Group purchased 80 per cent of the shares in Delta Aqua Redes from Andromeda Group. Delta Aqua Redes was already manufacturing and servicing nets, but as this was not the core business of Andromeda Group, they inv... FULL STORY

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