Mowi facts for kids
Mowi ASA, formerly known as Marine Harvest ASA, is a large seafood company from Norway. They operate in many countries around the world. Mowi is mostly known for fish farming, especially salmon. Their main farming areas are in Norway, Scotland, Canada, the Faroe Islands, Ireland, and Chile.
Mowi is the world's biggest company in the salmon and trout farming business. They handle about 25% to 30% of the global market for these fish. Mowi also has a special unit that prepares and distributes different seafood products.
The company became this big after a major expansion in 2006. This was when Pan Fish ASA joined forces with Marine Harvest N.V. and Fjord Seafood. Mowi's main office is in Bergen, Norway. Their shares are traded on the Oslo Stock Exchange.
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| Allmennaksjeselskap | |
| Traded as | OSE: MOWI |
| Industry | Seafood, food processing |
| Founded | 2006 (current structure) |
| Headquarters | Bergen, Norway |
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Key people
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Ivan Vindheim (CEO), Ole Eirik Lerøy (Chair), Leif Frode Onarheim (Deputy chair) |
| Products | Farmed salmon and trout, processing and distribution of seafood |
| Revenue | NOK 27.88 billion (2015) |
| NOK 1.42 billion (2015) Harvest volume of salmonids, tonnes gutted weigh: 420 148 (2015) | |
| Total assets | NOK 40.26 billion (end 2015) |
| Total equity | NOK 18.18 billion (end 2015) |
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Number of employees
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12,454 (2015) |
Contents
Mowi's Journey: A Brief History
Mowi became the company it is today through several big changes. It started with three main companies coming together.
The Original Companies
Before Mowi, there were three important companies: Marine Harvest, Pan Fish, and Fjord Seafood.
Marine Harvest: The Pioneer
The first company named Marine Harvest started in Scotland in 1965. It was founded by Unilever at the very beginning of Atlantic salmon farming. Unilever had been working on new farming methods there.
Later, the company expanded to Chile in 1975. Over the years, Marine Harvest changed owners several times. In 1999, a Dutch company called Nutreco bought it. Nutreco kept the name Marine Harvest for its fish farming parts.
In 2005, Nutreco combined its fish farming business with another company's seafood operations. This created a new, separate company, which was again named Marine Harvest.
Pan Fish: Growing Fast
Pan Fish Holding AS was founded in 1992. Its plan was to buy many fish farms both in Norway and other countries. By 1997, the company had grown a lot and was listed on the Oslo Stock Exchange as Pan Fish ASA.
However, Pan Fish borrowed a lot of money to grow so quickly. When the price of salmon dropped in 2001, the company faced big financial problems. They had to sell off some of their assets to pay back their debts. After some changes, the company slowly got back on track.
Fjord Seafood: Overcoming Challenges
Fjord Seafood started in 1996 with just one fish farm in Norway. It grew very quickly over the next four years. By 2000, Fjord Seafood was also listed on the Oslo Stock Exchange. It owned many fish farms and processing factories.
Like Pan Fish, Fjord Seafood also faced tough times when the market was bad in 2001. They needed help from their main shareholders to keep going. The company worked hard to improve its financial situation by making changes and cutting costs.
The Big Merger
A rich shipping businessman named John Fredriksen played a key role in bringing these companies together. In 2005, his investment company bought a large part of Fjord Seafood. Around the same time, his companies also bought a big share of Pan Fish.
Fredriksen's efforts finally led to a major change in March 2006. His company bought Marine Harvest and immediately gave ownership to Pan Fish. He also sold his shares in Fjord Seafood to Pan Fish at the same time.
By the end of 2006, the Marine Harvest group was fully controlled by Pan Fish. This created a much larger company.
A New Name and Identity
After the merger, Pan Fish decided to change its name and brand. In December 2006, the company chose "Marine Harvest" as its new name. They also used parts of the Fjord Seafood slogan and the Pan Fish logo.
Later, in 2019, Marine Harvest changed its name again to Mowi. This new name is now used for the company worldwide.
How Mowi Operates
Mowi produces different types of fish, mainly Atlantic salmon. They also work with halibut and white fish. The company manages the entire process of fish farming. This includes making their own broodstock (parent fish) in freshwater. Then, the fish grow and mature in seawater. Finally, they are harvested, processed in factories, and distributed to customers.
In 2015, Mowi produced a huge amount of salmon and other fish: 420,148 metric tonnes.
Where Mowi Produces Fish
Mowi has fish farms and processing plants in many parts of the world.
Europe
- Norway: Mowi has its main office in Bergen. They operate about 100 sea farms along the coast. They also have freshwater sites, special plants for parent fish, hatcheries (where fish eggs hatch), and four processing plants.
- Scotland: Mowi runs 25 sea farms in Scotland. They also have three hatcheries, four freshwater loch sites, a harvest station, and a processing plant in Fort William. All the fish produced here is Atlantic salmon.
- Faroe Islands: Mowi has freshwater and seawater sites here, producing Atlantic salmon.
- Ireland: Mowi operates a plant for parent fish, two hatcheries, freshwater sites, and twelve seawater sites. They also have three processing plants. Most of their operations are in County Donegal, producing Atlantic salmon.
America
- Chile: Mowi has 53 seawater and 22 freshwater sites in Chile. They also have four processing plants. Their regional office is in Puerto Montt. Here, they produce salmon, trout, and coho salmon.
- British Columbia, Canada: Mowi operates two processing plants, seven hatcheries, and 37 seawater sites. These are located near several towns in British Columbia. They produce Atlantic salmon here.
- Atlantic Canada: In New Brunswick and Newfoundland, Mowi bought a hatchery, fishing licenses, and a processing plant in 2017.
Processing and Sales
Mowi also has many processing and distribution plants, as well as sales offices, around the world.
- Europe: They have plants in France, Belgium, and the Netherlands. They also have sales offices in Italy and Spain.
- United States: Mowi has processing plants in Maine and Texas, along with sales offices in Miami.
- Asia: They have sales offices in Singapore, China, Japan, Taiwan, and South Korea.
Concerns and Criticisms
Like any large company, Mowi has faced some criticisms regarding its operations.
In Chile, Mowi's fish farms were affected by a disease called infectious salmon anemia. This virus caused many fish to die. Some people suggested that the virus spread because fish farms were too close together. Mowi has worked to address these issues.
In Scotland, Mowi has been criticized for using a certain insecticide to control sea lice on salmon. Some groups have raised concerns about the possible effects of this chemical on other marine life. Mowi has stated they are working to reduce the use of antibiotics and improve their farming practices.
