Danish Smoked Fish Producer Vega Salmon Expands to Germany

Berlin/Kiel (ots) - Danish fish production company Vega Salmon has
chosen Handewitt, Schleswig-Holstein, in northern Germany as the site
of its new fish processing plant. The company will be investing EUR
12 million in the new facility, which is expected to begin operations
in 2011. Germany Trade & Invest and the Business Development and
Technology Transfer Corporation of Schleswig-Holstein, together with
WiREG, the economic and regional development agency of
Flensburg/Schleswig, supported Vega Salmon with its new investment.

Vega Salmon GmbH is the German subsidiary of the privately owned
Vega Salmon Group. The Danish production company specializes in
smoked fish, especially salmon, trout and halibut. The group
generates EUR 31 million in annual revenues with products primarily
targeting retail markets. The new investment will receive support to
the tune of nearly EUR 3 million in state and EU funding. The company
is benefiting from generous incentives due to its contribution to
regional economic development as well as European fisheries.

The company is headquartered in Esbjerg, Denmark and has an
additional production facility in Sølvesbjerg, Sweden. A testament to
Germany's attractiveness as a business location, the new facility in
Handewitt marks the company's first investment outside of
Scandinavia. The new facility is expected to create 120 new jobs.

Germany's food and beverage industry is attractive for
international companies, as it is Europe's largest food market. With
its central location, Germany is also optimally positioned to reach
the markets of Eastern and Western Europe. In 2009, revenues for the
industry approached EUR 150 billion, while over EUR 39.3 billion of
goods were exported. The year demonstrated a positive trend in the
fish segment, demonstrated by new investments by Polish Inter Marine
and Japanese Nomura Trading also investing in Germany.

Vega Salmon was assisted by Germany Trade & Invest's team of
industry experts with its plans to expand to Handewitt, together with
the Business Development and Technology Transfer Corporation of
Schleswig-Holstein and WiREG, the economic and regional development
agency of Flensburg/Schleswig.

Germany Trade & Invest is the foreign trade and inward investment
promotion agency of the Federal Republic of Germany. The organization
advises foreign companies looking to expand their business activities
in the German market. It provides information on foreign trade to
German companies that seek to enter foreign markets.

Originaltext: Germany Trade and Invest
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Pressekontakt:
Germany Trade & Invest
Eva Henkel
Email: eva.henkel@gtai.com
T: +49(0)30 200099-173
F: +49(0)30 200099-111