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Vard to build fish farm platforms for Cermaq Norway

VARD Holdings said after trading closed on Monday that it has secured contracts for the design and construction of two offshore fish farming operation platforms for Cermaq Norway.

The platforms are scheduled for delivery from Vard Aukra in Norway in the second and third quarters of 2018.

The new platforms are of VARD 8 54 design, developed by Vard Design and Vard Aukra in close cooperation with Cermaq Norway.

The two platforms are specially designed for fish farming operations in harsh environments, and have a capacity for 600 tonnes of fish feed, as well as separate areas for storage, veterinary services, workshop and accommodation for a crew of eight people.

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Cermaq Norway is one of Norway's major food producers, with more than 550 employees and a daily production of 1.3 million portions of healthy and sustainable salmon.

The company is part of Cermaq Group, the world's second-largest producer of salmon and trout, with operations in Norway, Chile and Canada. Cermaq Group is a wholly owned subsidiary of Mitsubishi Corporation.