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NRS and Grieg go halves on $11.7 million salmon hatchery

The two companies join forces to buy Nordnorsk Smolt in Finnmark.

Norway Royal Salmon (NRS) and Grieg Seafood are jointly investing NOK 100 million (€10.7 million/$11.7 million) into acquiring Nordnorsk Smolt, a hatchery located in Hasvik, Finnmark.

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The two companies will have a 50 percent stake each in the hatchery, which is specialized in supplying big salmon smolt.

Nordnorsk Smolt has a production capacity of 800 metric tons per year, which corresponds to an annual production of about 3.2 million fish weighing 250 grams.

It will be possible to expand the capacity to around 2,000 metric tons by developing the plant, the two companies said.

"The acquisition of the plant will ensure good access to big smolt which will contribute to better production optimization and shorter production time in the sea," NRS and Grieg said in a joint release. 

The investment is in accordance with the companies' strategy to strengthen their smolt production.

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