Marine Harvest - 2018, December 4th
In general, Marine Harvest is in compliance with the Norwegian regulations relating to the organisation and procedures of the Extraordinary General Meeting.
Under ITEM 3, it is proposed to change the name of the Company to "Mowi ASA", in connection with a revised corporate strategy and the launch of a global brand "MOWI".
The new "MOWI" brand is aimed at the upper echelon of the salmon market in terms of quality and sales price. The Company expects that (MOWI) sales will increase gradually to exceed EUR 1.0 billion by 2025, generating additional operating income of at least EUR 100 million. Rebranding expenses are estimated at EUR 35 million to be recognized in the course of the next two years. ECGS has no (major) concerns over the proposal and accordingly recommends to vote FOR.
Marine Harvest is a seafood company engaged in the production of farmed salmon. Co. offers fresh and processed salmon and other processed seafood to customers in 70 countries worldwide. Co. focuses on three principal types of production activities: salmon feed production in Norway, fish farming and primary processing of fish in Norway, Scotland, Canada, Chile, Ireland, and the Faroe Islands, and secondary processing of seafood in Norway, Chile, Ireland, the United States, the United Kingdom, France, Belgium, the Netherlands, Poland, the Czech Republic, Japan, Vietnam, Taiwan, and South Korea.
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