Norebo

Norebo Holding is one of the largest fishing enterprises in Russia. It includes fish harvesting companies in the Russian North-West and Far East, trading companies, a fish processing factory and a cargo terminal with cold storage and sea port facilities.[2][3][4][5]

Norebo Holding
Industryfishing
Founded2007
Headquarters
Murmansk
,
Russia
Key people
Vitaly Petrovich Orlov[1]
Websitenorebo.ru

Norebo Holding was established in 2007, through the acquisition of a number of fishing companies operating since the mid 1990s, including some former Soviet fishing enterprises.

History

The business started in the mid 1990s when Vitaly Orlov, a graduate from Murmansk High Marine School (now Murmansk State Technical University), joined efforts with Swedish entrepreneur Magnus Roth. They worked together at a Norwegian fish trading company Scandsea Int. AS which was buying fish from Russian fishing companies based in Murmansk in the North-Western part of Russia, close to Norway.

In 1997 they created a new business with a 50/50 shareholding — a company called Ocean Trawlers A/S. Aside from buying fish, the company began to offer Norwegian trawlers for rent as a service called bareboat charter. This was crucial for the post-Soviet fishing industry, as old Soviet trawlers were very outdated and could not provide the required efficiency and quality of fish.

By 2005 the Ocean Trawlers fleet already consisted of 14 such trawlers. During the subsequent 15 years, from 2005 to 2020, the company invested about 800 million US dollars of borrowed funds to buy fishing vessels and to acquire competitors in the North-West and Far East of Russia.

As of 2019, the Norebo holding consisted of 16 fishing companies. Norebo is the biggest taxpayer and employer of Murmansk (pop. ~300 000) — a significant Russian Arctic stronghold situated within the boundaries of the Arctic Circle.

The Russian market is the biggest for Norebo, but its products can also be found all over Europe. One of Norebo’s partners is Danish food supplier Espersen, which processes Norebo's fish and delivers products to major retailers and restaurants in the European Union, including McDonald's.

Vitaly Orlov (#90 in the Russian Forbes rating) is the 100% shareholder of Norebo.[1]

London court hearings
Main article: Norebo conflict

In 2018, the High Court of Justice in London began to hear a dispute related to Norebo shareholding.[6]

gollark: We live in a society, so I don't really agree with blaming people for doing what the system™ incentivizes/causes.
gollark: Although I think economic growth is also good and important.
gollark: They're talking about personal growth. Which is basically definitionally good.
gollark: That would imply that you can never send messages in politics chat (except at exactly the same instant as messages are sent in another, which is impractical).
gollark: You can't really do that.

References
  1. "Vitaly Orlov". Forbes.
  2. Dawkins, David. "Fishy Business: Russian Tycoon Vitaly Orlov Faces Possible Loss Of Billionaire Status As London Court Battle Nears Its End". Forbes.
  3. Evans, Rob; Pegg, David (April 26, 2020). "Firm advised by ex-foreign secretary funding Russian fraudster's legal case". The Guardian.
  4. Quinn, Aine (31 July 2019). "Russian Billionaire's Freezing Order Melted in Frozen Fish Fight". Bloomberg News.
  5. Slingo, Jemma. "Costs question looms over Russian fish tycoons' London litigation". Law Gazette.
  6. "Approved Judgment" (PDF). Royal Courts of Justice. 27 March 2019.
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