Cases: Fisheries and aquaculture

Salmon producer Loch Duart buys Norwegian equipment with financing from Eksfin

The producer located northwest in Scotland use buyer financing from Eksfin when purchasing equipment from the Norwegian suppliers AKVAgroup and Mørenot.

Picturesque Loch Duart-site on the coast of Scotland. Mørenot and AKVA Group has delivered to different sites.

Customer at Eksfin: Loch Duart 

Need: Financing for purchase of Norwegian goods and services 

Product at Eksfin: Buyer financing 

Norwegian exporters: Mørenot and AKVAgroup 

Financing enables: Eksfin is providing a loan of £4,800,000 to Loch Duart for the purchase of equipment from Norwegian suppliers AKVA Group and Mørenot.

Eksfin’s loan carries 80% of the risk of the loan amount, totalling £3,840,000. A bank guarantee from HSBC UK covers the remaining 20%, amounting to £960,000.

Competitive financing when buying Norwegian goods and services

Loch Duart is growing and investing in increased production at several of its aquaculture facilities. With financing through Eksfin, it is easier for Loch Duart to choose Norwegian suppliers.

Buyer financing also available for Norwegian companies abroad

Long-term buyer financing from Eksfin is often utilized by international buyers of Norwegian goods and services. We can also finance deliveries from Norwegian-owned companies abroad, in this case from AKVAgroup in Scotland. This way, we support Norwegian exports and value creation, says Marie Sørlie, head of Seafood, Eksfin

Supports sales from Norwegian suppliers

Loch Duart’s upgrades involve purchases from several Norwegian suppliers.
AKVAgroup is the world’s largest provider of equipment and services to the aquaculture industry and supplies fish farming pens for the project. Mørenot from Ålesund is a global leader particularly in mooring solutions for aquaculture.

Increased production with Norwegian equipment

–Loch Duart are steadily increasing production through new sites and development of existing sites. With financing from Eksfin we can continue to invest in our infrastructure and operational capacity with equipment from Norway, says Simon Maguire, CFO at Loch Duart.

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