Sealord plans to sell mussel assets
New Zealand company Sealord has said that it plans to sell its South Island mussel farming and processing assets, due to a focus back on its core fishing business.
All of the company’s South Island marine farms will be sold and the Beatty Street mussel factory is expected to close at the end of September. New roles will be offered to all permanent staff.
Dorje Strang, Sealord aquaculture general manager said the company has been talking with employees about a proposed sale for some time, and plans to offer all 50 permanent staff alternate roles in the company’s Vickerman Street business.
Sealord says it believes the mussel business has a bright future, however, the company’s focus is on deep water fishing and to fund further investment in this area without increasing debt, assets need to be sold.
“We have made a pragmatic business decision about where Sealord needs to focus our resources to keep our business successful and enable it to grow,” said Mr Strang. “We are confident in the future outlook for our New Zealand fisheries and for the Vickerman Street processing facility and expect to continue to back this confidence with further investment in our people and facilities.”