Sistranda, 13 April 2021:
Today, Frøy has signed a four-year framework agreement for cleaning of nets with a leading Norwegian salmon farmer. The agreement is the largest ever net cleaning agreement entered into by Frøy in terms of volume, value and contract length. Following a gradual implementation, Frøy will deliver all net cleaning services in Norway for the client.
The agreement has an estimated total value of NOK 250-300 million over the contract period. The value of the contract will depend on the number of net cleanings carried out by Frøy during the term of the agreement which will depend on sea temperatures, the level of marine fouling on the nets and changes in the number pens for the salmon farmer. Salmon farmers carry out regular cleaning of nets to ensure optimal oxygen levels and growth conditions for the salmon.
CEO of Frøy, Helge Gåsø comments: The agreement is a strong vote of confidence from one of our long term clients, it includes both an extension of an existing framework agreement and an expansion with increased geographical scope. The contract provides a solid basis for continued growth.
The long contract duration provides increased earnings visibility in the service segment and cements Frøy´s position as the leading provider of aqua services to the Norwegian salmon farming industry.
For further information, please contact:
Helge Gåsø, CEO +47 901 01 101
Arne Rødsjø, CFO +47 954 12 340
Sondre Vevstad, IR +47 936 54 555
Important notices
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