Company Would be Vertically Integrated from Fishing to Omega-3 Products
AALESUND, Norway (Dec. 22, 2006) -- Austevoll Seafood ASA has entered into a letter of intent with investment company Ferd Private Equity Fund, for acquisition of Ferd's EPAX AS shares.
EPAX AS is a world-leading supplier of omega-3 concentrates and Austevoll Seafood ASA is a leading company in the pelagic fish, meal and oil industry with processing facilities in Norway, Chile and Peru.
"EPAX AS would be pleased to become under the ownership of Austevoll Seafood. EPAX AS would be the only significant omega-3 supplier to be fully integrated from fishing to high-quality omega-3 oils," said Bjorn Refsum, CEO of EPAX AS. "We already see tendencies of crude fish oil supply scarcity. Through Austevoll Seafood we would be able to expand on our secure access to quantity as well as quality— ensuring that our products continue to meet the high standards for which EPAX's oil is known.”
Refsum noted the EPAX AS board of directors recently decided on an investment plan to ensure increased production at the Aalesund plant, which will be realized in 2007. Refsum said Austevoll Seafood supports this plan.
About EPAX AS:
EPAX AS is headquartered in Aalesund with a global sales office in Lysaker/Oslo, Norway. Its production facility in Alesund is GMP- approved by the Norwegian Medicines Agency for manufacturing of API products. All of EPAX's business efforts reflect the company's core
commitment: Purity - Quality - Innovation. These values represent EPAX's commitment to offering products that are safe, pure and of consistent quality. EPAX AS offers concentrated Omega-3 EPA/DHA oils in the business-to-business segment under the brand name EPAX, available in a wide range of top quality formulas with different EPA/ DHA ratios focused on specific health conditions. EPAX is also available in TG or EE versions, including TG oils that are available in a deodorized TG/N version, which is virtually without taste and smell. For further information on EPAX AS, its products or clinical studies visit www.epax.com or contact marketing manager Gunilla Traberg at [email protected].
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