Norwegians increase share in the Catch
THE Norwegian shareholder in Shetland Catch, Europe largest pelagic fish processing factory, is to increase investment in the company by a further £3 million.
The move will take Norway Pelagic’s shareholding in the Lerwick based company from currently 25 to 50 per cent.
The company made its initial investment of £1.5 million in Shetland Catch in 2007.
Shetland Catch chairman John Goodlad said: “This investment reflects a wider confidence in the pelagic industry at the moment.
“It also recognises the huge potential which Shetland Catch has to develop its business.’’
Chief executive of Norway Pelagic, Tor Vikenes, added: “We have increased our stake in Shetland Catch because of its excellent strategic location, especially in relation to the attractive mackerel and North Sea herring fisheries.
“Shetland Catch has an experienced management team and we look forward to working with our partners in Shetland.”
The other two shareholders in Shetland Catch are Lerwick Port Authority and Shetland Fish Producers Organisation (SFPO).
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