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About Coast Seafood

Sotra Fiskeindustri AS

Sotra Fiskeindustri AS and Coast Seafood AS goes into a strategic alliance.

Coast Seafood AS and Sotra Fiskeindustri AS have for years been a close collaboration on packaging and processing of fresh / frozen salmon and trout products. This has meant that an increasingly large volume has been packed / processed at Sotra Fiskeindustri AS. The need to increase production capacity has been a recurrent challenge for the company. However, due to archaeological discoveries around the industrial area, it has not been possible to speed up the expansion of Sotra Fishing Industry AS.

As a result, we have decided to co-ordinate smoking activity on former Coast Sotrafish AS’s premises, to free land to develop the fillet department at Sotra Fiskeindustri AS.

In practice, it sells Coast Seafood AS production (Coast Sotrafish AS) to Sotra Fiskeindustri AS. In addition, Sotra Fiskeindustri AS completed a private placement to Coast Seafood AS as a strategic shareholder. Coast Seafood AS owner thus 23% of Sotra Fiskeindustri AS.

Following the merger and the rebuilding, Sotra Fiskeindustri AS emerges as one of the most complete production facilities for salmon and trout with a significantly increased capacity of fillet and smoking production.

Coast Seafood AS will sell and market products produced at Sotra Fiskeindustri AS.

We strongly believe that this partnership will benefit our customers, and we will offer an even broader product range than today.

Further information can be obtained by contacting:

Sverre Søraa CEO. Coast Seafood AS tel. 57853700/91163700 mail: sverre@coast.no

Kjell Inge Eide CEO. Sotra Fiskeindustri AS tel. 56327900/90612164 mail: kjell@h66.no