Longline fishing. (Photo: Fiskevegn)

Two rival fishing gear manufacturer become partners

NORWAY
Friday, August 17, 2018, 21:50 (GMT + 9)

Longline industry firms Fiskevegn and Mustad Autoline have agreed to strengthen their co-operation following the purchase of Vetrhus Holding AS the latter.

Through the acquisition of Verthus, which is now called Mustad Sealine AS, Mustad Autoline acquired 50 per cent of the shares in Fiskevegn, a leading manufacturer of longlines and fishing gear, while the remaining 50 per cent belongs to the Solheim family through its company Helge Solheim Holding AS.

‘We have identified significant synergies between the two companies, although they remain competitors in some segments such as automated equipment for the longline fleet. Mustad Autoline does not have its own longline production and Fiskevegn sees a great potential here. This will further strengthen the positive development that Fiskevegn has seen in recent years,’ pointed out Fiskevegn’s chairman, Helge Solheim.

For his part, Chairman and owner of Mustad Autoline, Hans H. Mustad commented that they believe there are significant opportunities in expanding manufacturing and product development at Flatraket and they look forward to being able to offer Fiskevegn longlines to their customers.

Fiskevegn is based at Flatraket in western Norway and has a staff of 47 and holds a 50 per cent share in SIA Magistr-Fiskevegn Group in Latvia.

In addition, the company has a US distributor in Seattle, is represented in New Zealand by its Christchurch branch and also has outlets at Nuuk in Greenland and St Johns in Canada.

Mustad Autoline has a staff of 58 and its head office and factoryare at Gjøvik, in eastern Norway. It has sales companies in Seattle and Newfoundland, as well as the subsidiary Mustad Havservice AS (Ålesund), which supplies coastal fisheries from divisions in Ålesund, Båtsfjord, Myre and Austevoll.
 

editorial@seafood.media
www.seafood.media

Print