Statt Torsk ASA has entered into a long-term agreement for the harvesting and processing of up to 3,500 tons of cod per year, with Western Seaproducts AS, a company owned by Måsøval AS.
The facility is located in Vartdal, Norway. Statt Torsk plans to process its entire production up to 31 December 2024 at Western Seaproducts AS.
Firstly, CEO of Statt Torsk ASA, Gustave Brun-Lie, said: "We are extremely pleased to enter into this agreement. This is a cornerstone in our aim to control all parts of the value chain of our production".
Moreover, he added: "The long-term experience for quality harvesting, which exists at the plant and with its owners, enables us to offer the predictability of quality and on-time deliveries required by our customers."
On the other hand, Asle Rønning, Chairman of Western Seaproducts AS assured this agreement will allow them to continue activities at the processing facility in Vartdal for several years.
"This is very good news for maintaining and creating long-term job opportunities in Vartdal. As we will now also seek to increase our staff with further employees," he concluded.
Statt Torsk ASA produces and sells farmed Atlantic cod. Euronext Growth Oslo listed the company with ticker "STATT" and with operations in Stad municipality.
From 2016-2021, the company carried out three pilot productions to clarify whether commercial production was possible. STATT is now in commercial production with currently two sites in Vanylvsfjorden.
Led by the third generation of the Måsøval family, the company now produces more than 25,000 tonnes of salmon a year, serving 2.6 million people – every single week, year-round. It has operated aquaculture businesses since 1973.
