On Feb. 1, Norway Pelagic and Austevoll Seafood said they were considering merging their pelagic businesses for human consumption.
Now the plan has been approved, the companies said.
The news comes as Norway Pelagic unveiled that its revenue and profit have fallen for 2010 due to lower volumes. The company said it would look to high-end markets to offset the trend, while also predicting more consolidation to come in the industry.
Norway Pelagic and Austevoll are some of Norway’s largest seafood processing companies and are both listed on the Oslo Stock Exchange.
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