Morpol presents new name of UK salmon farming activities, organisation structure of farming and completion of transaction of Jokelfjord Laks AS

February 8, 2011 09:32

Morpol hereby announces the new name of Morpol's UK salmon farming operations as Meridian Salmon Group, reports with reference to Morpol.

This is the trading name that all the UK salmon farming operations will operate as, effective as of today. During the coming months, a process will be initiated to legally merge operating companies of the former Lakeland and Northern Isles Salmon groups.

As previously announced, the Managing Director of Meridian Salmon Group is Willie Liston. Morpol is pleased to announce that Pal Angell-Hansen is appointed as Head of Farming for Morpol's global farming activities. In this position Mr Angell-Hansen will be responsible for the salmon farming in UK and Norway, the seabass/bream operations in Spain and cobia in Vietnam and Belize.

He will be part of Morpol's Management Team and will report to the CEO Jerzy Malek. Mr Angell-Hansen was previously CFO of Marine Farms ASA and has extensive experience in the aquaculture industry. He will be based in Bergen, Norway and head up a small team responsible for farming activities that will also offer additional resource on corporate accounting and other projects. We are also pleased to announce that Bjørn Myrseth, CEO of Marine Farms has agreed to continue with Morpol until the end of 2011 as advisor to the CEO and management on key strategic projects within the global Morpol group.

"We are excited to have Bjørn Myrseth and Pål Angell-Hansen on board and are confident that they will be a great resource to Morpol and to the farming operations in particular", says Jerzy Malek. "Bjorn Myrseth has unique knowledge and expertise gained from close to 40 years in the farming industry. Pål also has long experience in the sector and he has background as former analyst, investor and advisor in the seafood industry.

We believe that Morpol, with these appointments, takes the necessary step to strengthen management resources during this intensive growth period. With reference to the acquisition of Jokelfjord Laks AS announced 13 January 2011, we hereby confirm that the closing of the transaction took place 7 February 2011. The financial results of Jøkelfjord Laks AS will be consolidated into Morpol ASA from 1 January 2011.

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