Business & Finance
Canadian specialty food producer Premium Brands Holdings Corporation has signed a definitive agreement to purchase Portland, Maine, U.S.A.-based lobster processor Ready Seafood Co., according to a 4 September announcement from the companies.
A producer, marketer, and distributor of branded specialty food products in Canada, Premium Brands Holdings Corporation plans to complete its purchase of Ready Seafood in the next four weeks, depending… Read More
St. Petersburg, Florida, U.S.A.-based seafood company Newport International has hired Jay Gallagher as its new director of sales for the U.S. Southwest region, the firm announced on 30 August.
In the newly-created role, Gallagher will be in charge of selling Newport’s branded products to the company’s existing and future distribution clients. He will also work on product placement initiatives among foodservice chains and… Read More
Blue North Fisheries has parted ways with CEO Kenny Down, according to Down’s LinkedIn profile.
Down left the Seattle, Washington-based company, which owns and operates five freezer longline vessels harvesting cod in the North Pacific, in August 2018, according to his profile.
“After more than [six] years with a large fisheries company operating in the North Pacific producing more than 12,000 metric tons per year of finished… Read More
Shucks Maine Lobster, based in Richmond, Maine, U.S.A., is proposing a new ‘trap-to-table’ seafood complex on the Portland, Maine waterfront.
The complex would consist of a processing plant, seafood restaurant, and marine education center in a two-story, 16,000-square-foot building. John Hathaway, the owner of Shucks Maine Lobster, said the facility is estimated to create 80 new jobs.
The proposal was brought before the… Read More
Investors were nonplussed when leading Chinese aquaculture and seafood importing firm Zoneco recently reported a 52.4 percent fall in net profits for the first half of 2018, down to CNY 14.6 million (USD 2.1 million, EUR 1.8 million) on revenues of CNY 1.40 billion (USD 204 million, EUR 176 million).
Once the darling of investors, Zoneco, which goes by its Chinese name Zhangzidao, said the results show improvement in its financial position… Read More
IJmuiden, The Netherlands-based seafood firm Cornelis Vrolijk has acquired Kegge Garnalenhandel BV, a fisher, peeler, and packager of North Sea shrimp, according to Dutch newspaper de Jutter/de Hofgeest.
Kegge was bought out of bankruptcy by shrimp importer Vishandel Tel in 2012, and after moving its operations to Ijmuiden, the company upgraded Kegge’s peeling machines and successfully pursued certifications from the Marine Stewardship… Read More
The Cape Ann Seafood Exchange in Gloucester, Massachusetts, U.S.A., has been closed in the wake of the U.S. Labor Department seizing all the bank accounts of the auction, leaving it unable to pay fishermen for landed fish.
The auction, owned by Kristian Kristensen, had its accounts seized on 17 August and quickly began running into financial trouble as a result. The seizure was related to a civil action filed by then-Secretary of Labor… Read More
Cost improvements and another three months of high salmon prices helped SalMar achieve total operational earnings before interest and taxes (EBIT) of NOK 878.6 million (USD 105.3 million, EUR 90.5 million) in the second-quarter of this year, down from NOK 983 million (USD 117.9 million, EUR 101.3 million) in Q2 2017.
The Norway-headquartered producer would have posted even better results had some 45 percent of the quarter’s volume not been… Read More
An escape of 650,000 salmon after a storm in July will result in a USD 3.5 million (EUR 3 million) reduction in Marine Harvest’s Chile operational earnings before interest and taxes (EBIT) for the second half of 2018, according to the company. A deadline to catch 10 percent of the escaped fish or risk facing further penalties is set to expire on 3 September.
The company reported the reduction in its earnings report for the first half of… Read More
Bakkafrost Group delivered total operating earnings before interest and taxes (EBIT) of DKK 407.9 million (USD 63 million, EUR 54.7 million) in the second-quarter of this year, down from DKK 459.1 million (USD 70.9 million, EUR 61.6 million) in the corresponding period of 2017.
The Faroe Islands-based Atlantic salmon farmer’s operating revenues fell to DKK 954.3 million (USD 147.4 million, EUR 128 million) for the last quarter, and… Read More