BioMar and Sagun sign final agreement

August 4 2014

PRESS RELEASE

At a small ceremony in Aarhus, Denmark, the final agreement for the establishment of a Joint-Venture feed company and a feed plant in Turkey was signed by BioMar CEO Mr. TorbenSvejgaard and the owner of the Sagun Group Mr. Ahmet Sagun.

Torben Svejgaard expects the factory, which will be placed near Izmir in the south west of Turkey, to enter operation towards the end of 2015. Turkish fish farmers will, however, already in a few months be able to purchase feed from other BioMar factories through the newly established BioMar-Sagun feed company. The BioMar-Sagun Joint-Venture feed company will mainly serve Turkey, the second largest aquaculture market in Europe, but once the feed plant becomes operational the new feed company will also start export sales to some of the neighboring countries.

The establishment of the new Turkish Joint-Venture will strengthen BioMar’s position in the Eastern Mediterranean area considerably.

The Turkish market is already served by more than 15 feed companies, but almost all are only local players with limited resources for research and product development. Local presence is one of the keys to the Turkish feed market, but many Turkish fish farmers have long expressed the need for introducing new and better feed concepts allowing farmers to obtain better and more stable production results. In collaboration with one of the leading Turkish fish farmers BioMar recently performed bench mark trials with some of the main Turkish feed brands, and these trials underlined the need for introducing more efficient and sustainable diets in Turkish aquaculture. Further, the combination of BioMar’s know-how in feed development and manufacturing with Sagun’s strong network within the Turkish aquaculture sector will give the new feed company a very strong platform to start from.

For further information please contact:

Group Sagun
Mr. Ogulcan SAGUN :+90 533 727 6672
Mr. Onur FIL: +90 533 962 1902

BioMar Group
Mr. Henrik AARESTRUP: +45 25 50 50 71

The signing took place at the headquarters of Schouw & Co, the owner of the BioMar Group, in Aarhus, Denmark. Present were from left to right Mr. Jens Bjerg Sørensen, Managing Director of Schouw & Co, Mrs. Seda Sagun, Mr. Torben Svejgaard, CEO of BioMar, Mr.Ahmet Sagun, Owner and President of the Sagun Group, and the next generation in the Sagun family Mr. Ogulcan Kemal Sagun and Ms. Nazlican Sagun.