AKVA group signs agency contract with Egersund Island EHF

AKVA group steps up efforts in Iceland and has signed a formal agency contract with Egersund Island EHF through Benedikt Ernir Stefansson. The company will represent AKVA group and sell aquaculture technology and associated services to Icelandic fish farmers. The contract came into force on 1 January 2017, but the companies have already collaborated for 3-4 years. The office will be based in Reykjavik.
img 1935“We're doing this to increase our presence in Iceland and to promote sales and service work. The intention is to be able to provide even better service to Icelandic customers through a dedicated representative.  Egersund Island will promote AKVA group's products and look into opportunities to expand and further develop services in Iceland,” says Stig Martin Bø, who is one of the sales managers in AKVA group 
The aim of the collaboration is to increase turnover in time with the growth and initiatives in Icelandic aquaculture.
After working towards the Icelandic market for several years, the market for aquaculture equipment has developed in leaps and bounds in the past year. The key to the rapid development has been increased investments from Norwegian aquaculture companies and funds with aquaculture backgrounds in Icelandic companies. This has led to a radical increase in technology investment.
Icelandic authorities have introduced new Icelandic regulations for sea farming, which are largely based on the Norwegian NS-9415. This is an advantage for the industry. It prevents “wild west” conditions from the start. Further, there have been increased developments in services to the industry with smaller players that already are well-established. Larger companies have also shown an interest in this market.
Due to the increased investments, aquaculture companies are far better equipped to meet the plans for growth in Iceland. Low costs for investments in licences for salmon and no ownership limitations in companies have also been important in this respect. Furthermore, the industry's confidence in Iceland has gained, which has led to increased belief that Iceland will succeed and become a stable salmon producer.
AKVA group ASA wants to be a part of the Icelandic aquaculture boom and contribute to further develop the industry in Iceland, and this agreement is a part of this effort,” Stig Martin Bø concludes.
Planned growth of salmon production in Iceland: