Norwegian salmon producer Villa Organic is looking at a financially challenging year ahead, the company said in its fourth quarter report.
The report showed Villa has a loan of NOK 183.5 million (€24.1 million/$31.9 million) expiring toward the end of this year.
“This together with a growing biomass will be financially challenging for Villa. Villa is therefore dependent on obtaining new financing during 2012,” the company said.
An agreement has already been inked with SalMar, which will provide the company with around NOK 167 million (€21.9
