The Norway-based site will boost Benchmark’s capacity by 75%.
Benchmark Holdings, the UK-based fish treatments giant, has announced the commencement of production of salmon eggs at its new land based breeding facility in Salten, Norway.
The company said that sales of fertilised eggs will commence in November 2018 and additional fish will be brought into the facility to ramp up volumes throughout 2019. Initial sales will benefit the 2019 financial year, with full production capacity expected by 2021.
The announcement is the culmination of a two year, £40m investment. Benchmark currently outsources part of its production but now the new facility will enable the company to bring production in-house.
Benchmark also say that the Salten facility will be the “most modern salmon egg production site in the world” and that the increased capacity will allow the company to supply the global market with biosecure eggs year-round.
Malcolm Pye, CEO of Benchmark, commented:
“The opening of our new facility in Salten on time is a very important milestone for Benchmark which will allow us to capitalise on our leading market position in salmon genetics and the favourable long term market trends in the industry. We expect it to contribute additional revenues at higher margins going forward.