News / Finance package to boost Shetland Mussels’ production
THE DIRECTORS of Shetland Mussels Ltd are looking forward to doubling production on their mussel farms after securing a multi-million pound finance package from Clydesdale Bank.
The Walls-based company, one of the main producers of rope-grown mussels in Shetland, plans to use the finance to expand the business and increase its mussel harvest from 948 tonnes to 2,434 tonnes by 2020. They also plan to bring the number of jobs up from 17 to 20 in three years’ time.
Part of the money from the package will be invested in new production equipment on the company’s 24 farming sites around the isles.
Richard Tait, one of the owners and directors, said “the support and commitment that the Bank has provided will enable Shetland Mussels Ltd to fully action its development plan by 2020”. He added that mussels grown in Shetland were of a particularly high quality.
Graeme Johnston, relationship manager at Clydesdale Bank, said: “Richard and his team have shown great passion and determination to build this fantastic success story and our support reflects their commitment and entrepreneurial spirit.”
The family-run business began in 1997 and is owned by Lollie Tait and sons Richard and Michael. They supply to supermarkets, wholesalers and restaurants throughout the UK. The company is accredited by the Marine Stewardship Council, which sets the standard for sustainable fishing.
Shetland accounts for just under three quarters, or 74 per cent, of Scotland’s entire mussel output, according to figures released last month by Marine Scotland. The estimated value of Shetland-grown mussels stands at around £7.4 million.
Patrick Mainland
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