NRS has offloaded its southern Norway farms and is concentrating on the north, including its Arctic Offshore Farming project. Image: NRS.

NRS completes £111m sale of Region South

Norway Royal Salmon today confirmed that it had completed the sell-off of Sør Farming AS, which owns its Region South business, to three other salmon farmers.

Editors
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Sør Farming, which owns licences for 4,680 tonnes of maximum allowed biomass (MAB) of Atlantic salmon, has been sold to Tombre Fiskeanlegg AS, Lingalaks AS and Eidesvik Laks AS for around £111 million.

NRS owns licences to grow 34,746 tonnes MAB located in West Finnmark and Troms.

Charles Hostlund: Northern Norway is priority.

Innovation and technology

Chief executive Charles Høstlund has previously said that the company’s ambition is to develop the fish farming industry through the continued development of its operations, innovation and new technology, with northern Norway at the centre of its efforts.

The company has been granted eight development permits for its Artic Offshore Farming project, which is designed for areas too rough for current cage designs and, says the company, has the potential to solve the Norwegian salmon industry’s area challenges.

Earlier this month Danske Bank announced that NRS’s commitment to sustainable production had allowed it to convert NOK 400m of NRS’s NOK 2 billion credit limit into a green loan, which offers more favourable terms.

The money will be used to help finance a new smolt facility and the Arctic Offshore Farming project.

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