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"For us, as a company, it really goes back to the roots and we focus more on quality and the consumer," said Alf-Helge Aarskog, Marine Harvest Manager, E24.
If the general assembly gives the green light, it is now the name of the biggest salmon farmers in the world, and as Aarskog is installed, we look for the name of the startup.
Plans are announced Tuesday, due to Marine Harvest's annual capital market day.
Read also: (+) These are the most powerful people in Lakse Norway
Mowi was the name of the original company that started working with salmon in 1965. It was the name of the Marine Harvest salmon stock, in addition to the Thor pioneering farmer Mowinckel.
– This company was created by several entrepreneurs. Johan Lerum and Johan Fredrik Mowinckel were the first to grow trout and then salmon. This has obviously been important for the company. For many years, we used Mowi as a breeding ground, explains Aarskog.
According to the boss of Marine Harvest, the company has been working for nearly two years on name trading and branding. He added that the company has been progressively building capacity for pine, forage, downstream and brand expertise.
That's more than the name to change, Aarskog hopes.
Marine Harvest is considering a name change
Hope of a billion leap
With investments of 35 million euros, corresponding to 335 million kroner, it is planned to develop the Mowi brand over the next two years.
"When you start with such a business, you have to invest big investments, like building categories and consumer surveys," said Aarskog.
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TO BE MARKETED: According to Marine Harvest's presentations, here's how the Mowi brand marketing material looks.
"style =" width: 100%; "aria-decriteby =" figcaption # 24491715 "/> TO BE MARKETED: According to Marine Harvest's presentations, here's how the Mowi brand marketing material looks.
Sales under the new brand will increase the turnover of the agricultural effort from one billion euros, or NOK 9.6 billion, by 2025. With a operating margin of 10%, operating income will be increased by 100 million euros, or 960 million NOK, is the goal of Marine Harvest.
"What's interesting is the brand's initiative. Of course, it's hard to quantify, but they say they can make an additional operating profit of 100 million euros." "If they do, it's amazing," says analyst Vidar Strat of ABG Sundal Collier.
"There will be no" walk in the park ", and investors will take some time to enjoy it, but it's an initiative long overdue.We wondered why Marine Harvest , and many others, are not more visible in the stores, says the analyst.
As far as the salmon analyst is concerned, investors in Oslo Børs are not looking to immediately appreciate growth plans.
Tuesday, noon, Marine Harvest's share is down 1.9%, while the index following the seafood sector is down 1%, more modest.
New figures from the aquaculture industry: growth expected in 2019
Lovers of new salmon products
Marine Harvest plans to roll out the new brand in parts of Europe in 2019. The following year, Mowi's products will be exported to the rest of Europe, North America and the United States. l & # 39; Asia.
"We know that it will take a lot of hard work and patience in all parts of the organization, but we are convinced that the time has come for Marine Harvest to do it," said the CEO.
In 2017, the breeder was the largest salmon producer in the world, with one fifth of production in Norway and one third of production in North America and Chile.
The company is also focusing on second-transformation products that can reach a higher price and increase sales, such as different fillets and sushi.
With the new brand, there are also new launches, without the boss of Marine Harvest reveals any details.
"We are going to launch a series of new products, but we have deliberately chosen not to show it today." We will keep it for ourselves, says Aarskog.
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