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New cooperation model improves efficiency in Greek aquaculture

Two of the largest companies in the aquaculture sector in Greece have announced a cooperative agreement regarding the supply of aquafeed

July 21, 2009

New cooperation model improves efficiency in Greek aquaculture
Athens Stock Exchange listed Dias Aquaculture S.A and the Greek subsidiary of the international fish feed group BioMar, developed their cooperation with the aim of strengthening their positions in the markets of Greece and the Mediterranean.

Dias has agreed to purchase the vast majority of its fish feed needs from BioMar for at least the coming years. The deal is worth Euro 30 million a year. BioMar has also agreed to
acquire 25% of the shares of Zoonomi S.A, an aquafeed company in which Dias holds the mahority share, for a price of Euro 2.5 million. The management of the two companies considers that this agreement is the first step towards a bigger and wider cooperation to the benefit of both companies.

Dias from its side is securing the supply of high quality fish feed in alliance with a major international company specialized in fish feed and with huge experience and broad research for
the development of new improved and more economic fish feeds. Dias will focus on its further profitable growth within the production and sales of fish which is the core business of the
company.

With its cooperation with Dias, BioMar secures a strong base for its further profitable growth in the area of the east Mediterranean.

This model represents a new type of cooperation in Greece between independent professional companies in the value chain. Dias can concentrate on developing their farming activity and
Biomar can continue to develop fish feed based on their international position within sourcing, nutritional knowledge and technological competences.

Dias Aquaculture S.A, listed in the Athens Stock Exchange, is one of the three biggest producers of farmed fish in Greece and the Mediterranean with a capacity of 20,000 tons of production p.a, which is continuously growing. Dias also has a large hatchery, a fish processing plant, numerous packing facilities and a share in Zoonomi S.A, which owns an  aquafeedmill
located in Korinthos, Greece.

BioMar Hellenic S.A is the Greek subsidiary of the international BioMar Group, which in turn is owned by the listed Danish company Schouw & Co. BioMar Group with a history of 40 years
specialized in fish feeds, holds one of the top three positions worldwide with production facilities in seven countries (Denmark, Norway, Scotland, Chile, Spain, France and Greece). In Greece  BioMar has had a presence for 20 years and has since 2001 has operated a fish feed production plant in the Industrial Zone of Volos, from where BioMar supplies the Greek market as well as the markets of East Mediterranean, the Balkans and the Black Sea.

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