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First North Announcement no. 27, 2010
Hørsholm, 8th March 2010
Agreement with Homarus Europe Ltd.
Aqualife A/S has concluded an agreement with the British based company Homarus
Europe Ltd regarding the booking of 100 AQUALIFE container freights with fresh
shellfish between Halifax, Canada and Europe in 2010. The agreement will
commence after the construction of the first AQUAPORT in URK, Holland has been
completed in April. Included in this agreement with Homarus is also a letter of
intend to ship minimum 150 containers in 2011.
Homarus is the European market leader in the sales of distribution of European
lobsters in Europe. Homarus is a.o. supplying lobsters to the pan-European
wholesaler Metro Cash and Carry.
On the strength of this agreement, Homarus is expecting to increase cooperation
with a number of major retailers primarily in France. Before entering the
agreement with AQUALIFE, Homarus has secured preliminary agreements with a
number of clients and retailers.
The French market is of particular interest because the French
parliament recently passed a new bill where all fresh food products as of
January 2011 shall be carrying a carbon foot print label. All of the 3,000 tons
lobsters from North America, which today are consumed in France, are airfreight
with high levels of CO2 emission as a result.
By the implementation of the AQUALIFE system Homarus will be given a significant
competitive advantage in the French marked as CO2 emissions can be reduced by up
to 90 percent.
By the sale of the first AQUAPORT to Urk, and other agreements entered, the
agreement with Homarus means that a larger share of AQUALIFE's projected sales
for 2010 is largely contractually secured. The agreement with Homarus will
generate gross sales of USD 1.2 million under the condition that the necessary
AQUAPORT infrastructure in Canada and Holland is completed before the
transportations are up-scaled towards second half of 2010.
The intended shipments of minimum 150 containers in 2011 represent potential
gross sales of USD 1.8 million, at this volume level Homarus will ocean freight
approximate 20% of North American lobsters sold in France.
Yours sincerely
AQUALIFE A/S
Lars Nannerup - CEO
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| Further information is available from: | The company's Certified Advisor |
| Lars Nannerup, CEO, Tel.: (+45) 2242 4455 | is: |
| E-mail: lars@aqualife.nu | Dahl-Sørensen & Partners |
| | A/S, |
| | Allan Reimann, Tel.: (+45) 3364 |
| | 9205. |
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