LONDON, July 3, 2001 (PRIMEZONE) -- Stolt Sea Farm Holdings plc (SSF), a wholly owned subsidiary of Stolt-Nielsen S.A. (Nasdaq:SNSA) (Oslo Stock Exchange: SNI) today announced it has purchased the 87.5% of Eicosal S.A. in Chile which it does not already own from Pathfinder, Rabobank, and Dyfed Holdings.
With this acquisition, SSF will have a total production capacity in the 10th region in Chile of some 30,000 metric tons of Atlantic salmon, coho and trout. In addition, SSF will own 15 unused licenses in 11th region and have applications pending for 30 more. With Eicosal, SSF has acquired the most advanced brood stock and fresh-water fry and smolt program in the industry as well as a state-of-the-art plant with 35,000 metric ton processing capacity located near Puerto Montt.
Niels G. Stolt-Nielsen, CEO of SSF, said, "Of the major salmon producing regions, Chile is the fastest growing and offers a low-cost, quality source of supply to meet the growing demand for salmon in the important U.S. and Asia Pacific markets."
SSF produces and markets a variety of high-quality marine species and is one of the world's largest producers of Atlantic salmon and salmon trout with presence in all the major salmon farming regions (North America, Norway, the United Kingdom and Chile). SSF is the world's leading producer of farmed turbot, halibut, sturgeon, caviar, bluefin tuna, and also produces tilapia in North America. The Company's products are sold worldwide under the Sterling brand name through an in-market sales network in all three major seafood markets (Asia, U.S. and Europe).
This news release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Actual future results and trends could differ materially from those set forth in such statements due to various factors. Additional information concerning these factors is contained from time to time in Stolt-Nielsen S.A's U.S. SEC filings, including but not limited to Stolt-Nielsen S.A.'s report on Form 20-F for the year ended November 30, 2000. Copies of these filings may be obtained by contacting Stolt-Nielsen S.A. or the U.S. SEC.