This loan is to enable the company to purchase new equipment in order to improve throughput and fund the purchase of stocks under contract, necessary to service customers requiring long term six and twelve month contract periods. The company will also be operating under new ownership.
The current employment of 40 full time and 20 part time employees will now have long term security and the increased potential generated by the SIC loan will create a further 40 full and part time jobs.
The loan is secured on the building, equipment assets and also the frozen stocks. The loan has certain conditions attached, which the Council require to be satisfied by the owners before it is advanced.
Mr John Tait, the current owner and founder of the business 40 years ago, who stepped in seven years ago in order to maintain the companys future, now wishes to retire. He has sold out to an Aberdeen company SCAF Ltd., owned by four individuals, Stewart Black, Chris Bellamy, Andrew Charles and Frank Johnson.
Shetland Salmon Processor Gets New Owner, Loan
SCOTLAND, UK - The SIC Development Committee have announced the approval of a working capital loan of 725k for Whalsay Fish Processors Ltd.
