Bloomberg News

Nutreco to Invest EU24 Million in Norwegian Feed Unit (Update1)

June 26, 2007

Nutreco Holding NV (NUO), the world's biggest fish-feed producer, will invest 24 million euros ($32.3 million) to expand its Norwegian feed business.

Production capacity at Nutreco's Skretting unit will be increased by one-third to 240,000 metric tons by June next year, the Amersfoort, Netherlands-based company said today in an e- mailed statement. Skretting may add 100,000 metric tons of capacity after June, Nutreco said.

Shares of Nutreco fell 10 cents to 53.70 euros in Amsterdam, valuing the company at 1.87 billion euros. The shares have gained 8.7 percent this year.

Nutreco is seeking targets to boost its animal-feed division after selling salmon farmer Marine Harvest and other units last year. The animal-nutrition market is worth 150 billion euros a year, of which Nutreco controls 3 billion euros.

To contact the reporter on this story: Danielle Rossingh in London at drossingh@bloomberg.net.

To contact the editor responsible for this story: Justin Carrigan at jcarrigan@bloomberg.net.


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