EPAX AS Name Changes, But Industry Commitment Remains Constant

The new CEO is Mr Terje Bakken, former SVP Head of Supply and Trade Yara ASA, and member of Yara’s executive team since 2004. Mr Bakken has been heading the new EPAX Group since July of this year.

Oct 5 2011 --- It was recently decided that the Omega-3 lipids corporation previously formed by Trygg Pharma and former EPAX AS will be named EPAX AS. Former EPAX AS will become Epax Norway AS, a fully owned subsidiary and the key operating company of the Epax group. The new CEO is Mr Terje Bakken, former SVP Head of Supply and Trade Yara ASA, and member of Yara’s executive team since 2004. Mr Bakken has been heading the new EPAX Group since July of this year.

The EPAX AS business has its headquarters in Oslo, Norway. In addition to the existing Omega-3 facility in Ålesund, Norway there is now a resource centre in Hovdebygda, Norway, and a recently acquired manufacturing plant in Seals Sands, UK. The competence and technologies at the Hovdebygda unit will enable EPAX AS to strengthen the level of innovation for new products as special formulas.

The new plants form an additional expansion for EPAX that will be doubling the production capacity in the Ålesund plant by the end of 2011. This means increased opportunities to serve a bigger customer mass and new markets and products.

EPAX was acquired in the end of 2010 by Trygg Pharma, which is a joint venture between biotechnology company AkerBiomarine and Manhattan-based investment firm Lindsay Goldberg.

The condition-specific EPA/DHA blends manufactured by Epax Norway AS will continue to be marketed to the B2B dietary supplement industry under the name Epax.

“This reorganization and expansion means increased capability to serve a larger customer base and new markets, and allows us to pursue other business opportunities and products,” said Thomas Gulbrandsen, Director of Sales and Marketing Epax AS. “With the new corporate structure in place, our main areas of focus are still the processing and sales of concentrated, marine-based Omega-3 ingredients to the global dietary supplement industry. It will be business as usual and Epax AS is still committed to providing the dietary supplement industry with the same high quality fish oil they have come to know and trust,” added Gulbrandsen.