Mørenot investing in Spain
The acquisition is a part of MøreNot’s expansion strategy and is in accordance with its desire to expand the market around the Mediterranean Sea, where the fish farming industry is experiencing positive growth, according to a press release from Mørenot.
The Delta Aqua Redes plant is located in the Tarragona delta between Barcelona and Valencia on the Spanish East Coast. The company offers manufacture, service and antifouling of nets and has six employees. Delta Aqua Redes has been one of MøreNot’s customers for the past 10 years. MøreNot now owns 80 percent of the shares, while the remaining 20 percent is owned by the aquaculture giant Andromeda Group SL.
“We are vey pleased to have established our very own service station in the Mediterranean Sea. We chose Delta Aqua Redes because of the positive and longstanding business relationship we have shared. We know the employees and the service facilities, and more importantly we are certain that they are able to deliver the high quality standard required in MøreNot subsidiaries,” says Director of Sales and Marketing at MøreNot, Bente Lund Jacobsen.
Jacobsen recently visited Spain together with Nina Hildre, MøreNot Export Manager for Aquaculture, in order to sign the contract. It is of vital importance that all companies that are part of the MøreNot Enterprise meet stringent environmental requirements. “Delta Aqua Redes is one of very few companies in this region with adequate treatment facilities for waste water. We are now investing in new machinery, equipment and expertise in order to develop this company even further, explains Jacobsen.
Andromeda Group, which is owned by Greeks, is one of the largest companies in both Spain and Greece within the Sea bass and Sea bream farming industry.
“Andromeda has partnered with MøreNot, the best-in-class partner in the field of nets and net service activities. Andromeda’s strategy is to focus on its core business of hatcheries, farms and added-value products. Andromeda has outsourced the net servicing in Spain to MøreNot in an effort to improve efficiency and reduce operating costs in its farming activities, at the same time aiming to receive better products and services. MøreNot’s know-how and wide experience in the nets and net services operations constitutes a best-fit for our strategy,” says Dimitris Valachis the C.E.O. of Andromeda SA.
In spite of the financial recession in both Spain and Greece, MøreNot still consider this an important market and welcomes a Mediterranean establishment.
“Despite the financial crisis hitting these countries hard, the fish farming industry is blooming. In recent years, smaller fish farming companies have been acquired by large corporations that have made operations both more professional and efficient. This has resulted in better fish prices and improved profit margins. Thus, the timing of this acquisition couldn’t be better,” concludes Jacobsen.
