Maritech to expand operations to Europe, Asia
NORWAY – Maritech, a Norwegian provider of cloud-based software solutions for the seafood industry, is broadening its reach into European and Asian markets.
The company, known for its work with major salmon producers like Mowi, SalMar, and Grieg Seafood, has its technology in use by over 500 businesses across nine countries.
In a recent press release, Maritech highlighted the rising global need for cloud-based systems designed to enhance operational efficiency, adaptability, and profitability as a key factor driving its expansion plans.
“2024 represents a crucial milestone for Maritech as we begin our journey towards becoming a truly global company,” said Klas Vangen, the newly appointed general manager overseeing operations in Europe and Asia.
“The past six to eight years have seen remarkable growth for us. This year, there is growing interest in the seafood industry for digital tools that streamline operations and bring greater professionalism. It’s the right time to explore new regions.”
The expansion follows Maritech’s acquisition by U.S.-based CAI Software earlier this year.
The acquisition has widened Maritech’s network and provided new opportunities to enter previously untapped markets.
Maritech’s software addresses seafood processing, logistics, and trade.
Among its key innovations is the Maritech Eye, a product that uses scanning technology during fish processing to detect quality issues like blood spots, gaping, and melanin.
By identifying these factors early in the production line, the technology helps reduce waste, optimize resource use, and improve production planning.
The company claims the system supports sustainable practices by maximizing the value of seafood products based on their quality.
Financially, Maritech reported a turnover of NOK 195.8 million (US$18.21 million) in June 2024.
The profit before tax of NOK 13.5 million (US$1.26 million).
The company saw a 31% growth in long-term license income and an adjusted EBITDA margin of 17%, up from 13% in 2022.
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