PRESS RELEASE

Carsoe solidifies Russian breakthrough with new giant order

Danish company Carsoe has previously won an 800 mill. DKK order for seven fully equipped onboard fish processing plants delivered to the shipping company Russian Fishery Company (RFC). After a period of successful tests, Carsoe now announces a new agreement, which will secure RFC another four ships fitted with Carsoes advanced processing plants at a price of nearly 500 mill. DKK.

This solidifies Carsoes position as a preferred supplier to the fast-growing fleet of Russian fishing vessels.

Three years ago, the Russian government introduced a new program to encourage investments in a more modern fleet of fishing vessels. Initially, the program caused RFC to invest heavily in seven modern super trawlers designed for processing surimi.

In addition to this, RFC has now placed a new order with Carsoe for another four floating processing plants. Thereby, Carsoe plays an important part in the delivery of a total of 11 modern Russian fishing vessels – all of them highly profitable due to their onboard processing facilities.

The order for four more plants is a clear sign of RFC's huge ambitions in the fast-growing market. Carsoe is now by far the largest supplier of value adding floating plants, and the new agreement will fuel our growth well into 2025. We have worked on this in close cooperation with our branch in Seattle and succeeded because of our proven, best of breed technology, which places us well ahead of our competitors.

- Hugo Dissing, CEO of Carsoe.

Onboard processing know-how

The new agreement will secure work for Carsoe’s 350 employees both in and outside Denmark. It also emphasizes the company's ability to turn Danish technology and know-how into solutions, which make fishing vessels around the world more profitable.

The super trawlers (ST192) – equipped with both processing, packaging, and freezing facilities – are 108 meters long and 21 meters wide. When fully functional a 150-man crew can catch up to 60,000 tons of fish annually. Because of the onboard facilities, the fish does not have to be frozen first and then thawed and processed on land. RFC can process, package, and freeze the products at sea, making them ready for consumers before reaching shore.

This gives RFC a very important competitive edge.