Marine Farms Looking To Sell Belize Farm

The Fish Site
by The Fish Site
24 June 2010, at 1:00am

BELIZE - Norwegian aquaculture company Marine Farms ASA said yesterday (23 June) that it is currently reviewing a number of options, including the possibilities of selling its loss-making cobia farm in Belize.

The business continues to generate negative results, mainly due to the delays in the production of juveniles, the company said.

Significant capital has been invested in the development of the operations. A preliminary assessment indicates that an impairment of around NOK35m will be booked in the second quarter of 2010.