Brim''s board of directors has made the decision to invest €85 million in Greenlandic seafood company Arctic Prime Fisheries (APF).
Brim becomes a shareholder in APF, will participate in the company´s funding and will sell APF the newly built freezing trawler, Ilivileq, which was delivered from the Astilleros Armón shipyard in Spain last May.
“We believe it is prudent and will increase the value of Brim to join hands with Greenlanders in making the most of the opportunities in developing the seafood industry in Southwest and East Greenland,” said Kristján Davíðsson, Brim's chair of the board. “The know-how and experience of the people in Brim and APF is a perfect platform to increase and strengthen the co-operation in the fisheries sector between these two North-Atlantic neighbouring nations.”
APF was founded in 2006 and operates fishing vessels and fish processing plants in Southwest and East Greenland. The company holds considerable fishing rights of around 10,000 tonnes of ground fish, mainly cod and also redfish and Greenland halibut and around 18,000 tonnes of pelagic fish, mostly mackerel and also herring.
Until now the company has operated one freezer trawler and one longliner and also four fish processing plants in the towns of Qaqortoq, Narsaq and Nanortalik in Southwest-Greenland and Kuummiut in East-Greenland.
