The current limits must be exceeded

When the cooperative society TripleNine Fish Protein is reorganized as a limited liability company in November 2012, each of the current members of the cooperative will get a share in the value of the company, which will increase their awareness of the company's development.

- In addition to the settling price for the landed raw product, we're naturally looking at a considerable amount of capital that will be allotted to the individual members in the form of stock, CEO Christian Bisgaard notes. - But of course, this also means that the future stockholders will not only be interested in the amount of the current settling price of the landed raw products but will also be very interested in the stock value and the added value created in the company.

- That is why the company must continue to develop, and it will be necessary to exceed the current limits, Christian Bisgaard points out.

Three priority areas
He sees at least three priority areas in which further progress can be made for TripleNine.

Collaboration and consolidation
First of all, Christian Bisgaard points toward increased collaboration and a consolidation within the industry so that the individual company can achieve a strength that will make it possible in the future to maintain a solid position in the area around the North Sea, the Baltic Sea and the Atlantic.

This will also open up the possibility for production outside of Scandinavia, e.g. in South America, South Africa and China.

- The key phrase in this context is "raw product," Christian Bisgaard states. - What I mean to say is that a fish meal factory can only be run in the areas in which resources are available.

- This can then be combined with placement in near proximity to a significant market for fish meal, which is the case for China, where we've got off to a really good start this year with regard to the export of fish meal, he adds.

Product development
Another priority area is the development of new products. In this area, Christian Bisgaard sees particularly strong opportunities in the production of marine phospholipids, which can be used in capsules as a health food product.

TripleNine Pharma A/S is ready for production of phospholipids for human use.

Additionally, TripleNine is focused on developing new products for the pet food industry.

Securing raw product supplies
- We also need to make an effort to match the lower production costs that we're seeing in the Norwegian factories in particular, Christian Bisgaard continues.

- Otherwise, we won't be able to compete in the open market for raw products in which we will find ourselves, once TripleNine becomes a limited liability company without the supply contracts that the company has previously had with its cooperative members.

- It will be a challenge for us in these times where the tax squeeze is ever increasing in Denmark. But we're continuously working to bring down costs so that we can maintain a basis of raw product for the factory in Thyborøn of over 300,000 tons a year, says Christian Bisgaard.