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>>ESTABLISH SALMON BREEDING JOINT VENTURE

[press release] Joint venture SalMar Genetic AS established.

Benchmark announces today (Tuesday March 7, 2017) that it has signed a long-term agreement with SalMar ASA ("SalMar") to provide genetics, health and knowledge services to the company. The full suite of services the Company is providing illustrates Benchmark's leading position in the market, as well as its ability to offer a wide spread of products and solutions across the salmon's life cycle. SalMar is one of world's leading salmon producers.

Benchmark will, through it's subsidiary SalmoBreed AS, form a 50/50 joint venture for the production of SalMar's salmon strain, Rauma. This joint venture to be called 'SalMar Genetic AS',  will be formed by a demerger of SalMar's salmon production facility in Reistad, Norway. Benchmark will take full responsibility for managing the breeding programme through its subsidiary Akvaforsk Genetics Center AS.

The agreement also includes sales of eggs from Benchmark's land based sites in Iceland and once commissioned from its Salten site in  Norway. The Benchmark group will also provide fish health services, diagnostics, and health products.

Malcolm Pye, CEO of Benchmark, said;

"We are delighted to sign an agreement with such a blue-chip partner in the salmon market. It is testament to our customers' recognition of the benefits of our growing, integrated package of products and services, as well as our ability to enhance value for producers and contribute towards the overall sustainability of the aquaculture industry."

07/03/2017 9:00 amSalMar, Salmobreed, Benchmark