Scottish review

Grieg Seafood considering sale of fish farms off Isle of Skye

Grieg is one of the world’s biggest salmon farmers

Fish farmer Grieg Seafood is looking at options including a sale of its operations off the Isle of Skye, it said today.

The Norway-based company said in its second-quarter 2019 financial report it wanted to better concentrate its resources and operations.

Grieg Seafood is one of the world’s biggest salmon farmers, specialising in Atlantic salmon. The Group has an annual production target of 100 000 tonnes gutted weight in 2020. It has two operating units in Norway and one in western Canada, as well as a joint unit handling operations in Shetland and Skye. The majority of its production in the UK is in Shetland, though it has five farms on Skye.

Chief Executive Andreas Kvame said the synergy between its farming areas on Shetland and Skye is low. mAn evaluation of options will take place over the coming months.

Mr Kvame said: “Grieg Seafood will evaluate whether other strategic alternatives will allow the company to create more long-term value. The company will explore several possibilities, and options could include different kinds of strategic partnerships, a business transfer of the sites to another company, or assessing new ways to create better local synergies.

“This is a process of exploration, and we cannot guarantee that it will result in any specific outcome. We value our 21 talented employees on Skye and understand that this situation creates a degree of uncertainty for them. We do not envisage that this process will lead to the loss of any jobs.”

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