Nordischer Maschinenbau Rud, the German manufacturer of fish and other food processing equipment better known as Baader, on Thursday announced in a joint press release that it is acquiring Skaginn 3X, an Iceland-based manufacturer of fish processing equipment.
Baader will acquire a majority share in Skaginn 3X, though the deal is "subject to customary closing conditions and approval of relevant authorities".
Ingolfur Arnason will continue to serve as CEO of Skaginn 3X and be supported by his current management team, according to the release. A joint sales company will coordinate global sales activities with the existing Baader infrastructure, integrating also the Skaginn 3X sales force.
Until closing and completing the integration of Skaginn 3X, contacts and responsibilities in sales and distribution will remain unchanged.
"The combination of the long-standing Baader engineering practices and our deep roots and expertise in Icelandic fisheries will boost our joint development and innovation”, Arnason is quoted as saying.
“We are happy to announce this joint venture and look forward to jointly offering our customers an even broader scope of superior solutions over the entire processing line”, said Petra Baader, Baader's executive chairwoman.
The announcement of a sale follows some recent notable achievements by Skaginn 3X.
In September, the Russian fishing and processing firm Murman Seafood announced that it would be using Skaginn 3X-manufactured mince line and IQF freezer in its newly opened whitefish plant in the port of Murmansk.
Skaginn 3X, in June, announced that it had signed a pair of pre-engineering contracts with a collection of downstream South Korean and Russian firms with aims of modernizing and automating their fish processing capabilities. The company reported then that it would help develop a processing factory for South Korea's Hyeseung Fisheries, set to be the most advanced onshore processing facility in the region.
In May, the company signed a contract with Mowi, the world's largest salmon farmer by volume, to install its 'sub-chilling' salmon cooling system at the latter's factory in Heroy, Norway.
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