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The Norwegian group's trading update appears to validate its previous decision to maintain its projected harvest volume in Norway for 2026 unchanged.

"The fourth quarter demonstrates the effect of a robust and fully integrated value chain," said Henning Beltestad, CEO of Lerøy Seafood Group.

Backe has been awarded the turnkey contract by the property owner, West Coast Invest Eiendom AS.

The Norwegian seafood group's trading update for Q4 shows a drop in both its farmed and wild catch volumes compared with last year.

Weak salmon prices and high sea temperatures caused major losses for the group's farming business, while its value-added operations nearly doubled their profit.

The salmon farming companies say their new Aquatraz C2 units, supplied by Seafarming Systems, will double Norway’s closed production volume by 2028.