STATT – Agreement on sale – 1,600 tonnes WFE
Statt Torsk ASA (“STATT” or “the Company”) has today entered into an agreement for sale of farmed cod. Deliveries will start in September and the content of the agreement means that approximately 1,600 tonnes WFE of initiated production has been sold. Expected value for the Company for this agreement is approximately MNOK 70.
"For STATT, this is a significant agreement with a customer who already knows the Company and our fish. It is good for both the Company and our new industry to get confirmation of the quality of farmed cod, especially with a customer who has high demands on both product and supplier. Although we will never be satisfied with the price we achieve, the agreement represents a good increase compared to last year's price achievement. The security that follows an agreement with such a customer is also important for the Company's development in unstable times. Now we see the result of the changed production cycles from 18 to 30 months", Gustave Brun-Lie, CEO of Statt Torsk ASA.
The agreement will involve 2 weekly deliveries and approximately 30% of the company's initiated and expected production. Statt Torsk ASA recently entered into an agreement for financing of NOK 35 million for the build-up of inventories to be able to carry out weekly deliveries of cod from September 2022.