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Sealord Plans to Sell South Island Mussel Assets

Economics +1 more

NEW ZEALAND - A focus back on its core fishing business has resulted in Sealords plan to sell its South Island mussel farming and processing assets.

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All of the companys South Island marine farms will be sold and the Beatty Street mussel factory is expected to close at the end of September. New roles will be offered to all permanent staff.

Dorje Strang, Sealord Aquaculture General Manager said the company has been talking with employees about a proposed sale for some time.

This part of the business employs 50 permanent waged and salaried staff. Our intention is to offer all of these people alternate roles in our Vickerman Street business. This is a reflection on the fantastic people in this team who have worked extremely hard over the last few years, he said.

While Sealord believes the mussel business has a bright future, the companys focus is on deep water fishing and to fund further investment in this area without increasing debt, assets need to be sold.

We have made a pragmatic business decision about where Sealord needs to focus our resources to keep our business successful and enable it to grow, said Mr Strang.

We are confident in the future outlook for our New Zealand fisheries and for the Vickerman Street processing facility and expect to continue to back this confidence with further investment in our people and facilities.

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