VARD Acquires Key Equipment Supplier In The Aquaculture Industry

We are pleased to announce that we have entered into an agreement to acquire Storvik Aqua AS, a leading equipment supplier that provides feeding, measurement and control solutions to the aquaculture industry. The purchase price is approx. NOK 35 million.
Headquartered in Sunndalsøra, Norway, Storvik Aqua has a production facility in Norway as well as subsidiaries in Chile and Scotland, and a total workforce of 33 employees. The company will continue to operate under its existing brand name, but in close interaction with the Vard Aukra shipyard. Its products range from biomass measuring, feeding equipment and oxygen optimization to tools for closed cage treatment and logging of environmental data.
Storvik Aqua’s products will enable Vard Aukra to deliver specialized vessels for fish farming with innovative integrated solutions, differentiating it in the market. With a 30 year track record in the industry, Storvik Aqua has an established customer base that allows Vard Aukra to broaden its relations with potential clients in the aquaculture business. The company also provides a platform for the development of new solutions, in particular within bio mass measurement and fish health related equipment. It has just launched the AkvaVision camera, a new innovative solution for more accurate bio mass measurement by use of underwater camera. 
CEO and Executive Director Roy Reite commented, "Through this acquisition, VARD confirms its position as a provider of innovative solutions for the aquaculture business. We are excited about the opportunities this generates for VARD and welcome the employees, new clients and business partners to VARD. "
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