Samherji buys the Seafood Company Brim in Akureyri

May 3, 2011 09:37

A sales agreement was signed this weekend between a new Daughter Company of Samherji and Brim Seafood Company, selling Brim´s assets in Akureyri. The new company will be named Utgertharfelag Akureyringa. The agreement is signed with the reservation of approval due to competitive restrictions, reports with reference to Samherji.

The assets comprise of fish processing factories in Akureyri and Laugar including machinery, the two fresh fish trawlers  Solbakur EA 1 and Mars RE 205, previously called  Arbakur; fishing allowances in Cod, Haddock, Catfish and Plaice, in total 5.900 tons of Cod equivalent.  The total quota allowances of the two companies Samherji and UA are under the maximum quota allowances permitted both in individual species and in total, according to the current law of fisheries. Meetings will be held today introducing these changes to the 150 employees of Brim in Akureyri and Laugar. 

 The purchasing price is 14.500 millon kronur. Samherji contributes equity of 3.600 million kronur, partly financed by selling assets abroad.  Landsbanki Islands, the new company´s bank, finances 10.900 million kronur with the intention of supporting grounds for the continuation of fish processing in Akureyri.

Þorsteinn Mar Baldvinsson, Director of Samherji:

„Samherji has not invested much in the seafood business in Iceland in the previous years but both invested and taken active part in various other countries around the world.

Sunday 1st of May 28 years ago, when the trawler Akureyrin sailed into Eyjafjördur, was the beginning of our activities here in Akureyri.  Our roots are here. We felt, when this opportunity came, in spite of the uncertainties in the fisheries business in Iceland, that the right thing to do was to assist in preventing more uncertainties in the employment and standard of living situation here in our home grounds.  There are uncertainties in the administration of the fisheries in Iceland but the Government has declared the intention of creating a stable working environment for the future.  We have always believed in the seafood business and have there fore decided to invest 3.600 million kronur in this company. We are aware of the risk involved but we believe that we can handle it, especially due to our successful business in other countries recently. To supply the capital for this investment we intend to sell some of our assets abroad and bring foreign currency into the country. In the light of the Government´s declarations we hope to be able to continue the Company´s current operations, ensuring our employees' earnings, ‘‘says Þorsteinn Már Baldvinsson, Director of Samherji.

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