Cermaq is joining the UN Global Compact.
In February Cermaq formally joined the UN Global Compact (GC) by sending a letter of commitment to the Secretary General of the UN. However, adhering to the principles of Global Compact is not new; these principles are basic and already integrated in Cermaq’s operations.
- Formally joining Global Compact does not change our way of operating, we are already adhering to these universal principles. We believe that when entering new markets like Vietnam it is useful to demonstrate our recognition of the UN initiative, says CEO of Cermaq Geir Isaksen.
In December 2010, Cermaq entered feed production in Vietnam by obtained 51 percent of the shares in a joint venture company with the local partner, Anova Corporation. By this agreement the feed division, EWOS, enters the feed market for farmed Pangasius.
The ten principles of Global Compacts cover the four areas; Human Rights, Labour, Environment, and Anti-Corruption.
Cermaq is an international group of companies with activities in fish farming, production of salmonid feed and research in aquaculture. Cermaq has operations in Norway, Chile, Canada and Scotland, the main geographic regions for salmon and trout farming. Through its business unit EWOS, Cermaq ranks as the world’s second largest producer of feed for salmonids. The business unit Mainstream is one of the world’s leading farming companies of salmon and trout. The group had sales of around 10 billion in 2010, and employed ca. 3 500 employees at year-end 2010. Cermaq is listed on the Oslo stock exchange with ticker code CEQ.
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