The Japanese trading house Marubeni and Proximar strengthen their partnership as Marubeni invests in the convertible bond issue in Proximar.
Proximar Seafood announced 17th October that it had successfully raised NOK 250 million (EUR 25 million) in a convertible bond, further funding the company’s construction and operational start-up of a land-based salmon farming facility at the foot of Mount Fuji in Japan. In conjunction with this, Marubeni Corporation has invested NOK 21 million (EUR 2.1 million) in the convertible bond.
“The construction of our land-based salmon farming facility in Japan is on track, both on time and cost, and we are now initiating the production phase. A completion of this capital raise enables us to fully focus on the operational start-up. Having Marubeni even as an investor is a great milestone and of strategic importance for us. It follows the good cooperation already established for the sales and marketing of our product”, says Joachim Nielsen, CEO of Proximar Seafood.
Proximar has – from inception – executed on its partnership strategy with relevant parties to secure a strong platform for future operations. Marubeni’s investment is in line with this strategy and brings in important dimensions when it comes to marketing and sales and other local synergies in Japan.
Marubeni Corporation is one of Japan’s largest conglomerates, with extensive business activities and presence worldwide.
“With Marubeni’s participation even as an investor, we see Proximar’s credibility further strengthened in Japan. We are confident that this will be valuable in many ways going forward. Marubeni is a large and reputable player in Japan, and we are very pleased about the strengthening of our partnership” says Joachim Nielsen.
Marubeni and Proximar signed a 10-year sales and distribution agreement in April this year.