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AKVA group ASA merger approved


AKVA group ASA merger approved by the boards of AKVAsmart, Helgeland Plast og Wavemaster. Creating the global leader in aquaculture technology

Bryne, Mo i Rana, Vancouver, Puerto Montt og Dublin
- The previously informed merger between AKVAsmart ASA, Helgeland Plast AS, Wavemaster Chile SA, Wavemaster Canada Ltd og Wavemaster Ltd (Ireland) were last Friday approved by the Board of Directors and the main shareholders of the different companies. It has been sent out to the shareholders of AKVAsmrt ASA for the final approval in the extraordinary general meeting on August 25.

The merger of the three groups of companies forms the new AKVA group ASA, which will be the global leader in aquaculture technology. The new groups activity is flourishing at the moment in all main markets and product areas.

- The deep aquaculture knowledge and the combined comptence of the groups close to 350 employees is unique. This will be one of our main advantages going forward. We will work hard to further develop and to enhance the groups competence going forwards says CEO Knut Molaug of AKVA group ASA.

- To reach the groups goals we will strengthen our position as leaders in the technological development of the industry by focused development into new technologies and new products that are of importance for our customers.

- Further to this we want to be the first mover and consolidator of the industry globally. As a part of our strategy of gloabal positioning in the aquaculture industry we will seek to acquire companies within the salmon industry and a number of other regions and fish species.

- As stated earlier AKVA group continues to work with the goal to list the company at the Oslo stock exchange later this year.

14. august 2006, 8:00 a.m. CET


For further information contact:

AKVAsmart ASA
Knut Molaug, Tel: +47 51778500 Mob +47 90139522
kmolaug@akvasmart.com

Helgeland Plast AS
Johan Roger Smith-Nilsen Tel:+4775139504 Mob +47 91843759
jrsn@polarcirkel.no

Wavemaster
Canada Doug Louvier Tel: +1-604-888-2777 Mob +1-604-230-4563
dlouvier@wavemaster.com

Wavemaster Chile
Roberto Abarca Tel +56-65-250250
rabarca@wavemasterchile.cl

Wavemaster Ireland
Terry Nolan Tel +353 1 8241744 Mob +353 87 2333 500
terrynolan@wavemaster.com


About the companies involved
AKVAsmart ASA is the leading supplier of feeding technology, sensors, control systems and advanced IT systems to control the biological production to the global aquaculture industry. The company has 3 offices in Norway (Bryne, Trondheim and Brønnøysund) and additional offices in Puerto Montt, Chile; Campbell River, Canada; Inverness, Scotland and Bodrum, Turkey.

Helgeland Plast AS is the leading supplier of plastic cages to the world aquaculture industry under the brand Polarcirkel. In addition the company supplies work boats to the aquaculture industry and other markets and plastic piping systems to land based fish farms and pipes for various applications including small hydropower plants. The company's head office is located in Mo i Rana, Norway with a subsidiary in Puerto Montt, Chile.

The Wavemaster Group consists of a number of companies that jointly are the leaders in the supply of steel cages to the aquaculture industry. The group is the leading supplier of cages in all markets where they are represented. The main offices are in Puerto Montt, Chile; Campbell River, Canada; Dublin, Ireland and Inverness, Scotland.

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