Faroese feed and large smolt to cut SSC costs by €0.26 per kilo

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Major investments predicted in the wake of the acquisition of The Scottish Salmon Company (SSC).

Bakkafrost CEO Regin Jacobsen organised a press conference, transmitted through webcast online from Glyvrar, Faroe Island, in Oslo on Thursday morning to elaborate on his plans with the SSC acquisition.

“If we look at the distribution of revenues, Bakkafrost has a large share of revenues from America and Asia, while SSC has less than 20 per cent of sales outside the EU. This acquisition will allow us to further diversify our sales and give us an even stronger market position,” Jacobsen said, according to TDN Direkt.

“We believe the investments we have made in the Faroe Islands can be replicated. The systems we have used in the Faroe Islands have a strong track record, and this will have a value in Scotland,” he added.

The Bakkafrost boss sees cost savings in SSC of up to EUR 0.26 per kilo, fully realised in two years. This will be driven in particular by their own smolt and feed.

“We have the capacity in existing investment programs on fishmeal, fish oil and feed. We see strong synergies in using our own feed in the operation in SSC and are clear on our strategy of producing larger smolt. We believe smolt is the key to driving biology forward and will make targeted investments in this segment going forward,” Jacobsen said according TDN Direkt.