Ship designer and builder Vard Group is selling its fish farming equipment division Vard Aqua to Norwegian aquaculture technology supplier Imenco, the company announced Thursday.
Vard Aqua, formerly Storvik Aqua, was acquired by the Vard Group in 2016 for NOK 35 million ($4.3 million/€3.9 million) and has 34 employees across Norway, Chile and Scotland.
The company develops and supplies equipment for oxygen addition, feeding, biomass measurement, sensors and logging.
Imenco CEO Rune Bringedal said the company is investing heavily in aquaculture and fish farming and is seeking to expand its product portfolio to bring in new customers and markets as part of a strategy to get closer to the customers where farming is carried out.
