Business & Finance

Published on
May 25, 2018

Cooke Aquaculture announced on 24 May that the company would be closing production of smoked salmon at its St. Mary’s River Smokehouses on 22 June. 

Cooke acquired St. Mary’s in October 2017. The company – located in Sherbrooke, Nova Scotia, Canada – was founded in 1996 and produces varieties of cold- and oven-smoked salmon. Cooke attributed the closure to being able to increase efficiencies by moving production to it… Read More

By

Cliff White

Published on
May 25, 2018

Bumble Bee Seafoods CEO Chris Lischewski has stepped down from his leadership position with the company, following his indictment on price-fixing charges brought by the U.S. Department of Justice on Wednesday, 16 May. The company's chief operating officer, Jan Tharp, has stepped into the role of interim CEO in Lischewski's absence, effective immediately, Bumble Bee said on Friday, 25 May. 

In a statement sent to SeafoodSource, Bumble Be… Read More

By

Madelyn Kearns

Published on
May 23, 2018

Bucksport, Maine, U.S.A.-based Atlantic salmon farmer Whole Oceans has chosen Jason Mitchell to be its new chief operating officer, the company announced on 22 May. 

Whole Oceans, which runs a state-of-the-art recirculating aquaculture system (RAS) out of a former Verso paper mill, noted Mitchell’s 15-plus years of experience in shipbuilding operations and general business management as key factors that contributed to his hiring. … Read More

By

Colin Bennett

Published on
May 22, 2018

Multiexport Foods and AquaChile became the first Chilean salmon farmers to report results for the first quarter of 2018. Both reported profits and felt the impact of lower prices for Atlantic salmon. However Multiexport saw its revenue fall and also ceded in profits, while AquaChile had a slight revenue dip and a profit increase compared 2017.

According to Multiexport’s investor presentation for the quarter, the firm recorded USD 121.8 mill… Read More

By

Madelyn Kearns

Published on
May 21, 2018

Seafood Harvesters of America has found a new executive director in Leigh Habegger, the organization announced on 17 May. The role was previously held by Kevin Wheeler, who vacated the position to become Deputy Chief of Staff at the National Oceanic and Atmospheric Administration. 

Habegger comes to the role most recently from Restore America's Estuaries, where she served as the senior manager of external affairs for the non-profit. Her work… Read More

By

Cliff White

Published on
May 21, 2018

The attorney representing Bumble Bee CEO Christopher Lischewski, who was indicted on Wednesday, 16 May on federal price-fixing charges, said his client is innocent.

Attorney John Keker of San Francisco, California, U.S.A.-based Keker, Van Nest, and Peters, issued a staunch defense of his client.

“Chris Lischewski is a decent and honorable man, who has lived a hardworking and ethical life,” Keker told the Times of San Diego. &ldqu… Read More

By

Madelyn Kearns

Published on
May 18, 2018

New Bedford, Massachusetts, U.S.A.-based seafood supplier and processor Northern Wind has hired industry veteran Kenneth Loud as its vice president of new product development, the company announced 15 May. 

Loud, who has over 35 years of experience in the seafood industry, comes to the role most recently from Kendell Seafood – a provider of Chilean sea bass from Patagonia – where he had been working for the past four years. … Read More

By

Jason Holland

Published on
May 18, 2018

Good price achievement and a larger harvest helped Norwegian-headquartered salmon farmer SalMar achieve total operational earnings before interest and taxes (EBIT) of NOK 708.1 million (USD 87.2 million, EUR 73.8 million) in the first-quarter of this year, up from NOK 670.7 million (USD 82.6 million, EUR 69.9 million) in Q1 2017. Nevertheless, company CEO Olav-Andreas Ervik said that the opening three months of 2018 had provided “somewhat m… Read More

By

Jason Holland

Published on
May 18, 2018

Norway-headquartered salmonid producer Grieg Seafood ASA posted operational earnings before interest and taxes (EBIT) of NOK 162.1 million (USD 20 million, EUR 16.9 million) before fair value adjustment of biomass in the first-quarter of this year, up from from NOK 131.5 million (USD 16.2 million, EUR 13.7 million) in the corresponding period of 2017.

At the same time, its operating revenues for the three-month period increased 5 percent year-on-… Read More

By

Madelyn Kearns

Published on
May 16, 2018

Norway-based AKVA group signed a letter of intent on 15 May regarding the enterprise’s pending acquisition of all shares of Egersund Net, an equipment producer for the aquaculture industry. 

The transaction will see AKVA paying NOK 750 million (USD 92.9 million, EUR 78 million), the enterprise value of Egersund Net, to acquire the equipment developer. However, the final purchase price may be adjusted to accommodate the net debt and wor… Read More