Mjåtveit facility in the municipality of Alver in Bergen, Norway, is FiiZK's newest production plant. Although being part of FiiZK Protection, it will remain in the group after not being included in the sale to Hampidjan.
Photo: FiiZK.
Earlier this week we learned that FiiZK group had reached an agreement to sell its lice skirt production business, FiiZK Protection, to Icelandic fishing industry supplier Hampidjan. It thus continued its restructuring process, which about a month earlier had reached another important milestone with the sale of FiiZK Digital to the Norwegian seafood investment firm Bluefront Equity. Following both transactions, the group has now announced that it will focus on its unconventional farming methods business.
A year ago, Nekkar and BEWI Invest became FiiZK’s main shareholders after acquiring 80% of the company. Of these, 39% are held by Nekkar and 41% by BEWI Invest which, in a recent post on its LinkedIn page said that, since entering the company's shareholding, they have carried out "a successful restructuring of the FiiZK group and initiated a strategic process that has resulted in a plan for a more focused FiiZK."
Now, the company has confirmed that going forward it will focus on the sale of these unconventional farming methods, closed and semi-closed fish cages for fish farming, with associated software, maintenance, and services.
"The aquaculture industry is increasingly recognising the biological and commercial benefits that closed and semi-closed cages bring. To date, FiiZK's cage products have successfully completed more than 70 production cycles, demonstrating strong fish growth and no problems with lice and escapes. We aim to build on this success," said Jan Erik Kvingedal, managing director of FiiZK.
As WeAreAquaculture reported earlier this week, the sale of FiiZK Protection to Hampidjan - the financial details of which have not been disclosed by agreement of the parties - will be completed in September 2024 and will not include FiiZK Protection's facilities in Mjåtveit, near Bergen in western Norway.
This facility, which employs approximately 20 people and manufactures technical textiles including tarpaulins for closed and semi-closed fish cages, will be transferred to FiiZK group company, FiiZK Industries AS, before the execution of the share purchase.
As explained by Ole Falk Hansen, President of FiiZK and CEO of Nekkar ASA, the decision to keep this facility within the group is strategic and fits in with the plan for a more focused activity established by the new shareholders upon their arrival at the company.
"Our facility at Mjåtveit plays a key role in manufacturing materials for our semi-closed and closed fish cages. Keeping this business therefore supports FiiZK's strategic direction," he stated.