On Thursday, Norway’s Ministry of Fisheries and Coastal Affairs awarded Pan Fish a licence to own up to 25 % of national concession biomass.

Norway’s regulation on the control of ownership specifies requirements for permission from the Ministry of Fisheries and Coastal Affairs for owning more than 15% of national concession biomass. The upper ceiling level for ownership is 25 %.

The licence which has now been granted to Pan Fish is due, among other things, to the fact that the company is handling increased processing in the coastal districts in Norway of 10 % a year, and increased investment in R&D operations of 5 % a year.

“These conditions will contribute to fulfilling the regulation on ownership’s emphasis on national objectives for marine industries, such as increasing value creation and increasing the value of Norwegian exports of fish,” says Helga Pedersen, Minister of Fisheries and Coastal Affairs.

To keep watch on whether the company is fulfilling its obligations, the company has to report any development linked to the conditions specified. In addition, the company must draw up a record of shareholdings in subsidiaries and other affiliated companies.