2 February, 2007

THE PROCESS of creating the world's largest processor for herring and mackerel took another step forward earlier this week when the four companies behind the merger informed Oslo Stock exchange of their plans.

Domstein Pelagic, from Måløy, will merge with Global Fish, of Ålesund, Bergen Fiskeindustri and Koralfisk, to form Norway Pelagic.

The new company will have its head office in Måløy with a divisional office in Ålesund. The four companies had an combined turnover in 2005 of NOK 2.3 billion (around £210 million)

Sigurd Teige is expected to become the chairman of Norway Pelagic, and Gunnar Domstein will be its managing director.

The merger is planned to be cleared by stockholders' meetings on 31 March and Norway Pelagic should be in business by the 1 July, this year.

The initial letter of intent was signed back in October last year.