Marine Farms ASA (Public, OSE: MAFA) was incorporated in 1976 under the name Lakeland Smolt Lt Lax AS. Until 1987, the company held Bjørn Myrseth`s shareholdings in Stolt Sea Farm, where Bjørn Myrseth was employed as Managing Director from 1972 until 1987. In 1987 the shareholdings in Stolt Sea Farm was sold and Marine Farms started its own international investments in fish farming.
Marine Farms' core competence is its technical and biological know-how and innovativeness. The company's operations mainly consist of salmon farming in the U.K. and seabass / seabream in Spain. These activities are run through the 100% owned companies Lakeland (U.K.) and Culmarex (Spain), both being fully integrated companies and among the most profitable in their respective markets. In addition, Marine Farms ASA is engaged in farming of the fast growing marine species cobia in both Belize and in Vietnam.
The Group had a turnover of NOK 755 mill in 2008 (IFRS) and had 607 employees per 30.06.2009.
Thursday, September 16, 2010, Nireus Aquaculture SA has announced that it sold 11,057,147 shares (representing 30.2 per cent of the total share capital) of Marine Farms ASA to Morpol