Vard Holdings acquires Storvik Aqua AS for $5.96m

It will enable to group to deliver fish farming vessels.

Singapore-listed designer and shipbuilder Vard Holdings ventured into the aquaculture sector as it secured acquisition of Storvik Aqua AS, a leading equipment supplier of feeding, measurement and control solutions in the industry.

Vard acquired Storvik for a purchase price of around $5.96 million (NOK 35 million).

Storvik Aqua operates mainly in Norway and has a total workforce of 33 employees. Vard said the company will continue to operate under its existing brand name, but in close interaction with its Vard Aukra Shipyard.

"Storvik Aqua’s products will enable Vard Aukra to deliver specialized vessels for fish farming
with innovative integrated solutions, differentiating it in the market," the group said.

These products range from biomass measuring, feeding equipment and oxygen optimization to tools for closed cage treatment and logging of environmental data.

Vard added, "With a 30 year track record in the industry, Storvik Aqua has an established customer base that allows Vard Aukra to broaden its relations with potential clients in the aquaculture business."