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Norwegian smoked salmon - Kritsen - 140 g (Photo: Kritsen)

Mowi to build a modern smokehouse in France

Click on the flag for more information about France FRANCE
Thursday, May 23, 2019, 20:50 (GMT + 9)

Mowi ASA has announced that it will build a highly automated and modern smokehouse in Landivisiau, Brittany, to replace the original Kritsen's processing plant, which was destroyed by massive fire in July 2018.

The fire destroyed 95 per cent of the processing factory

In a statement released today the the company explained that France is one of the biggest salmon markets globally and the Board's decision ensures the continuation of Kritsen's and Mowi's long tradition of producing high-quality smoked products in the country.

“France is also one of the most sophisticated markets with a wide range of premium products, and the high-end market for smoked salmon in France continues to grow, led by branded products. Therefore, the Board has decided that the next launch of the MOWI brand will take place in France,” said the company.

  

Clare Island Organic "pure premium" smoked salmon (left) and "Pure premium" wild smoked salmon caught in Alaska certified MSC

“In relation to the rebuilding of Kritsen, Mowi will record a restructuring provision for industrial and social reorganization of approximately EUR 19 million. Capital expenditures for the new factory are estimated to EUR 23 million. Expected insurance refunds amount to approximately EUR 17 million.”

Kritsen "Traiteur de la mer": Terrines, Délices, Tarama and Clafoutis/ Cakes

Mowi also indicated that the restructuring provision and insurance coverage will be recognized in the Profit and Loss accounts in the second quarter under "Restructuring cost" and "Revenue", respectively.
 
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