Icelandic company HB Grandi hf., the company with the largest quota in the oceans around Iceland, has announced that it is to form a daughter company, Atlantic Pelagic B.V., in The Netherlands.
HB Grandi will be selling freezer trawler “Engey” – the largest vessel in the Icelandic fishing fleet – to Atlantic Pelagic, who will then operate the vessel for catching mackerel, horse mackerel, sardines and sardinella off the African coast. The planned transfer for the vessel is April this year.
Dutch fishing company Parlevliet & Van der Plas will market “Engey”s products.
HB Grandi says that by forming the new company and operating “Engey” off Africa, it is growing its business and better utilising the company’s investments.
However, the whole crew of “Engey” (except those holding key positions) will be laid off and will be replaced by new crew hired in The Netherlands.
The operation of “Engey” has been successful since the vessel began fishing in Icelandic waters in June 2005. The total catch value of 2006 amounted to 1.451 million ISK, or approximately €16 million. However, the fact that prices of fishmeal and fish oil have increased while prices of frozen herring have decreased, has affected profits.
HB Grandi produces seafood products from the waters around Iceland. The company catches and processes groundfish and pelagic fish species including deep sea redfish, golden redfish, haddock, cod, saithe, Greenland halibut, capelin, herring and blue whiting.
The products are sold widely, with the largest markets in Europe, North America, and Asia.
