MOWI PROPOSES MOVE TO OPTIMISE CORPORATE STRUCTURE
Mowi proposes move to optimise corporate structure. In a move to enhance efficiency, salmon giant The Mowi Group is proposing to merge Mowi ASA and Mowi Norway AS to achieve a more optimised corporate structure.
A statement from Mowi said: “The Mowi Group constantly wants to have the most appropriate and efficient company structure for the companies in the Group, both organizationally as well as operationally. The corporate structure in Mowi is today characterized by the result of several acquisitions and inherited corporate structures, and the Group is in continuous process to simplify the company structure and reduce unnecessary costs and internal transactions.
“As part of this process, the company wants to merge Mowi ASA and Mowi Norway AS to achieve a more optimised corporate structure.
“The employees will, when the merger is implemented, continue their employment contracts unchanged in the parent company. There will be made no changes in salaries or other terms for the employees.
“Following the merger, Mowi Norway AS will be dissolved and its assets, rights and liabilities be transferred to Mowi ASA.”
About Mowi ASA
Mowi ASA is one of the largest seafood companies in the world, and the world’s largest producer of Atlantic salmon. The company employs 13 233 people, and is represented in 25 countries. In 2017 the company had a turnover of EUR 3.6 billion. Mowi is listed on the Oslo Stock Exchange (OSE) and its share also trade on the US OTC market.
Mowi supplies healthy, delicious and sustainably farmed salmon and processed seafood to more than 70 markets worldwide. The company is present and trusted in all major salmon farming regions in the world. In 2017 harvest volumes of salmon was 370 000 tonnes (GWT).