Scanbio fish feed facilities. (Photo: Scanbio)

Fish by-product producer to acquire two Norwegian companies

NORWAY
Tuesday, October 09, 2012, 04:30 (GMT + 9)

Scanbio Marine Group AS, a leading producer of fish protein concentrate, fishmeal and fish oil from fresh and fresh preserved fish by-products, has announced that it has entered into a definitive agreement to acquire Tank og Masse-Transport AS (TMT) and Haugland Sjotransport AS (HS).

TMT collects, stores and transports category-2 (K2) and category-3 (K3) fish by-products from aquaculture fisheries and fish processing facilities in Norway. Haugland owns two high-tech vessels, the Haugfjord and Haugbas, which are leased to TMT and will complement Scanbio's current fleet.

Financial terms were not disclosed and the transactions, which are subject to customary closing conditions, are set to close in Q4 2012.

TMT and Haugland are majority-owned by Ole and Kenneth Haugland, who will continue to work with Scanbio after the transactions are completed.

David Buckeridge, Partner of Paine & Partners, LLC said the acquisition of TMT and Haugland is an important step in Scanbio's long-term growth strategy.

“With its purpose-built, modern vessels and outstanding service, the acquisition of TMT and Haugland Sjotransport strengthens Scanbio's raw material supply chain and service offering to the aquaculture industry,” he stated. “We are excited to have Ole Haugland and Kenneth Haugland as members of the Scanbio management team and would like to welcome them and the entire TMT and Haugland Sjotransport team to Scanbio."

Ole Haugland, co-owner of TMT and Haugland Sjotransport, noted that the companies have had a productive working relationship with Scanbio for over 15 years.

"Given that TMT is widely regarded as a leading provider of collection, storage and transportation services for K2 and K3 by-product in Norway, we believe this combination will benefit both TMT and Scanbio," Haugland said.

Established in 1984 in Bjugn, Norway, Scanbio specializes in the production of fish protein concentrate, fish oil and fishmeal from fresh preserved by-products (silage) and fresh raw materials. It has three production plants in Norway and sales operations in Scotland.

The group is now headed by holding company Scanbio ASA and has six divisions; Scanbio Bjugn, Scanbio Lysøysund, Scanbio International, Scanbio Scotland, Estra and Milpro and has offices in Fosen, Trondheim and Båtsfjord, Norway and in Fort William, Scotland.

Tank og Masse-Transport AS and Haugland Sjotransport AS are  headquartered in Kleppesto.

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