AUSTEVOLL SEAFOOD ASA

AUSTEVOLL SEAFOOD ASA

Previous company name
AUSTEVOLL HAVFISKE AS
Name change date

Company Overview
Austevoll Seafood ASA (AUSS) is a Norway-based holding company that provides services in pelagic fishery, fish meal and oil production, processing of fish for human consumption, sale of fish products and salmon farming. The three divisions of the Group are Human Consumption, Salmon and fish meal and oil. The Group operates with fishing fleets, fish meal plants, canning plants, modern packing plants, salmon farming and sales units to ensure high level of freshness in its catch from fishing waters to finished products. AUSS was established by the Mogster family which has been fishing for generations. The company was incorporated in 1981 and is headquartered in Storebo, Norway.
Austevoll Seafood ASA is one of the leading pelagic fishery companies in the world. The company is committed to providing quality products to consumers by employing sophisticated fishing technology and responsible fishing strategies that harvest the abundant offerings of oceans without compromising the sustainability of such a valuable natural resource. In addition, the Group operates in Peru, Chile and it has close cooperation with varies governmental authorities in all the countries it operates in.
In 2006, AUSS aims to continue to grow strongly, particularly through consolidation in Peru and Chile.
Business Summary
Austevoll Seafood ASA is a holding company. The Company s activities are divided into four main activity areas: production of fishmeal and oil, products for direct human consumption, farming and trading activities. The Company has been created based on Austevoll Havfiske AS, with acquisitions of business units in Norway, Chile and Peru. The Company is operational through the number of subsidiaries, including Austevoll Fisk AS, Veststar Holding AS, Aumur AS, Austevoll Eiendom AS, Laco IV AS, Inversiones Pacfish Ltda., A-Fish AS, and others. Austevoll Seafood ASA is headquartered in Storebo, Norway.
Description and history
Austevoll Seafood ASA is a holding company. The Company s activities are divided into four main activity areas: production of fishmeal and oil, products for direct human consumption, farming and trading activities. The Company has been created based on Austevoll Havfiske AS, with acquisitions of business units in Norway, Chile and Peru. The Company is operational through the number of subsidiaries, including Austevoll Fisk AS, Veststar Holding AS, Aumur AS, Austevoll Eiendom AS, Laco IV AS, Inversiones Pacfish Ltda., A-Fish AS, and others. Austevoll Seafood ASA is headquartered in Storebo, Norway.

History

Austevoll Seafood ASA (AUSS) has its roots from the Mogster family residing on the Austevoll Islands, a few miles south of Bergen, an old Hanseatic city on the west coast of Norway. The family has been fishing for generations, and current operations can be traced back to Mr. Alf Mogster, the father of Ole and Helge Mogster, the two brothers who now control Austevoll Seafood ASA.

Austevoll Havfiske AS was incorporated in 1981, AUSS has been created based on Austevoll Havfiske AS, one of the top pelagic fishery and salmon farming companies in Norway, with subsequent acquisitions of business units in Norway, Chile and Peru.

Helge and Ole Rasmus Mogster ( the Mogsters ) in 1986 have founded, developed, and controls 56% (2006) of DOF ASA, today a global oil services company with a market cap of NOK 3,700m, owning and operating supply and anchor handling vessel company holding 56 vessels (including newbuildings), and the spin-off GEO ASA.

Throughout its history, AUSS has acquired a significant number of companies of a complementary nature to its existing business areas, and has successfully integrated these businesses and created synergies and value added business through co-operation across its business areas.

In 2006 AUSS aims to continue to grow strongly, particularly through consolidation in Peru and Chile.

In January 2007 AUSS acquired Epax AS and by this entered into production of High concentrate Omga-3 oils. Epax AS is one of the leading producers of high-concentrate Omega-3 oils that are increasingly used as an ingredient in pharmaceutical products, as additives to make food healthier, and as dietary supplements.

In November 2007 the Group acquired 50% of the Peruvian fishing company CORMAR and by this expanded its business in Peru. The Group increased its fleet by 6 vessels and increased the production capacity for production of fishmeal and oil in the strategically important area of Chimbote and Chicama.

In March 2007 AUSS took up its shareholding in Leroy Seafood Group ASA (LSG) in connection with the sales of the salmon company, Veststar Holding AS, to LSG. During 2007 AUSS increased its ownership in LSG to 33,34%, and in November 2008 AUSS increased the
ownership in LSG to 74,93% through a mandatory offer. In February 2009, AUSS and Origin Enterprises plc (Origin) merged their respective activities related to fishmeal and fish oil in Norway, Ireland and Great Britain. AUSS’ wholly-owned Norwegian subsidiary, Welcon Invest AS, owns fishmeal and fish oil activities in Norway. Origin’s wholly-owned subsidiaries, United Fish Industries (UK) Ltd and United Fish Ltd (the UFI companies) own Origin’s fishmeal and fish oil activities in Great Britain and Ireland.

Established by the Mogster family which has been fishing for generations

Business Line
Provides services in pelagic fishery, fish meal and oil production, processing of fish for human consumption, sale of fish products and salmon farming
Subsidiary
A-FISH AS
Advisor
PRICEWATERHOUSECOOPERS AS
IPO date
6/6/2006
US SIC Code
0912
Company Address
Alfabygget

City province or state postal code
5392, STOREBO
Phone: +47 56 18 10 00
Fax: +47 56 18 10 03
Country address: NORWAY
Website url: www.auss.no

Download PDF

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>