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Norwegian fish farming technology provider AKVA group ASA acquires underwater light systems and net cleaning machines supplier Idema Aqua AS
Nordic Business Report, May 14, 2008
NORDIC BUSINESS REPORT-14 May 2008-Norwegian fish farming technology provider AKVA group ASA acquires underwater light systems and net cleaning machines supplier Idema Aqua AS(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Norwegian fish farming technology provider AKVA group ASA (OSE: AKVA) announced on Wednesday (14 May) that it has agreed to acquire Idema Aqua AS in a NOK64.5m deal.
The acquisition is based on a letter of intent initially announced in March.
Idema Aqua, headquartered in Haslum, Norway, is a leading supplier of underwater light systems and in-sea net cleaning machines for the aquaculture industry. The company has 31 employees in Norway, Scotland and Chile, and reported sales of NOK53.9m in 2007.
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The acquired operations will be included in AKVA group's farm operational technology business area OPTECH.
AKVA Group, headquartered in Bryne, Norway, is the leading provider of fish farming technology, offering software, sensor systems, feed systems, recirculation systems and cage systems. The company reported revenues of NOK932m in 2007.
One British pound (GBP) is worth approximately 9.91 Norwegian kroner (NOK).
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