Norwegian aquaculture equipment supplier Selstad and Italian aquaculture services company Badinotti Group have entered into a joint venture, Maisma Net Services, establishing a shared production facility for aquaculture and fishery equipment in Larache, Morocco.
The partnership aims to enhance global production capabilities and offer top-tier equipment and services for the aquaculture and fisheries sectors.
Both companies, rooted in family ownership, see the venture as a strategic alignment of their expertise. Hans Petter Selstad, CEO of Selstad Group, emphasized the benefits of the collaboration, citing shared values and complementary skills between the two firms. “By establishing a production facility closer to Europe, we will reduce delivery times and ensure higher standards of quality control for our customers,” said Selstad.
Giancarlo Badinotti, President of Badinotti Group, echoed this sentiment, stating, “Our products and knowledge complement each other, and we share long-term visions. This joint venture aligns perfectly with our goal of promoting aquaculture and fisheries on a global scale.”
The new facility will focus on producing trawl and fish farming nets, leveraging the experience of both companies. The joint venture follows Badinotti Group’s recent acquisition of Maisma Morocco SARL, marking their first expansion into Africa.
Both companies, founded by their respective families in 1910 (Badinotti) and 1953 (Selstad), have grown into significant players in the global market, with combined revenues of nearly €200 million. Together, they plan to continue expanding their influence in the aquaculture and fisheries industries.
