Netastovan acquires Look North building for DKK 20 million

Netastovan has purchased the building owned by Looknorth in Klaksvík for a total of DKK 20 million, marking a significant step in the company’s ongoing expansion.

The agreement was formally signed during the Atlantic Fair exhibition, where representatives from both companies were present. The deal confirms earlier indications that negotiations were underway regarding the sale of the property.

According to Hanus Hansen, Chairman of the Board and co-owner of Netastovan, the acquisition is driven by strong growth within the company. He explained that Netastovan is experiencing increasing activity and is also planning to expand into the aquaculture sector, which has created a need for larger and more suitable facilities.

The new premises are expected to support the company’s future development and provide the capacity required for its broader business ambitions.

The transaction highlights continued investment and confidence in Klaksvík as an important hub for industrial and maritime-related activities in the Faroe Islands.

(Photos: Look North)

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