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January 26, 2006
Salmon breeder hooks Chile deal

Scottish salmon breeding company Landcatch Natural Selection has secured about a 14% share of the world Atlantic salmon egg market in 2006, helped by a major acquisition in Chile.

The deal is part of the planned growth of the company in Scotland and Chile, targeting a global market share of 30% by 2011.

"We have invested £17m in salmon breeding over the last 10 years, creating a world class scientific and technology base," said Hugh Currie, LNS chairman.

"In addition, the acquisition in Chile means we now have wholly-owned egg production facilities in both the northern and southern hemispheres, the only independent salmon breeding company in the world to be able to make that claim. This allows us to feed data into our breeding selection twice a year instead of once, thus speeding delivery of improvements to customers."

Prior to its acquisition by LNS, Landcatch was owned jointly by Landcatch and Marine Harvest, a structure which dated from 1997 when Landcatch entered a joint venture with Pesquera Eicosal, which was subsequently taken over by Stolt Sea Farm, and then by the Dutch-owned Marine Harvest.

Transferring Landcatch Chile to 100% Scottish ownership was achieved by LNS, Lithgows' specialist aquaculture breeding company, purchasing Marine Harvest's 50% share in the Chilean business. Egg production in Chile is scheduled to be doubled to 60 million eggs a year.

Source : The Herald