Fully integrated aquaculture group lands net washing contract worth €25-30 million

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Frøy has signed a four-year framework agreement with “a leading Norwegian salmon farmer”.

According to an Oslo Stock Exchange announcement on Tuesday, the agreement is the largest net washing agreement the company has entered into in terms of both volume, value and duration.

The agreement has an estimated total value of EUR 25-30 million over the period of the contract, and the contract value depends on the number of nets cleaned by Frøy.

Helge Gåsø. PHOTO: Frøy Group

“The agreement is a strong vote of confidence from one of our long-term customers, and it includes both an extension of an existing framework agreement as well as an extension that has increased geographical scope. This contract provides a solid basis for continued growth, and the long contract duration increases earning visibility in the service segment,” said Frøy CEO Helge Gåsø.

“This cements Frøy’s position as the leading provider of aqua services to the Norwegian salmon farming industry,” added Gåsø.