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Norwegian equipment supplier Akva expands in Asia

The company lifted second quarter results by stronger order intake in the Nordic region.

Norwegian aquaculture equipment supplier Akva sent four workboat fleets to Vietnam and is constantly looking for different opportunities to gain a better position across new geographical areas, CEO Hallvard Muri said in a presentation of the company's second quarter results.

The fleets are described as "simpler" than those supplied to Norway and Iceland.

The supplier saw its earnings soar in the second quarter because of better cage-based technology sales and a doubling of sales in the Nordic region.

Three quarters of the company's cage-based sales came from the Nordic region. The Mediterranean region did not perform as well for the company.

"It has been a demanding nine months where it has been quiet in Turkey and the same in Spain," Muri said.

"The markets are characterized by a lack of earnings in the aquaculture industry."

The company is also looking at ways to grow its foothold in Chile and Canada, where it has entered into a letter of intent with a company willing to partner with Akva for several services.

Even though the Nordic region is driving sales, Akva is not satisfied with core product developments in Norway due to intense competition, however, Muri promised more news to come during the upcoming AquaNor show.

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