Major fish processor restructures – Fishupdate.com

Major fish processor restructures Published:  07 January, 2008

The company is based in Reykjavik

ICELAND Seafood International, a worldwide sales and marketing company dealing in fresh, frozen and salted seafood, has announced a major restructuring of its operations.

From this month, all current activities within the group relating to sales and export of frozen and salted seafood from Iceland will be amalgamated with Tros ehf, an ISI affiliate company involved in export of fresh seafood.

The new company, based in Reykjavik, will now be called Iceland Seafood ehf and will be responsible for the export of fresh, frozen and salted seafood along with other services to suppliers abroad, including Britain.

The new company will be managed by Mr Bjrani Benediktsson, who was formerly chief operating officer for ISI. Meanwhile, Iceland Seafood International, which runs eight different subsidiaries in North America and Europe including one based near Hull, is to be turned into a holding company responsible for its operations in seven different countries as well as financing, information systems and business development. The company also has a strong relationship with processors in South East Asia.

The move is seen as a a highly interesting development by the Nordic fish trade because just a few weeks ago ISI sold Tros, one of Iceland’s largest exporters of fish by air to the UK and America to K&G Fiskverkun for an undisclosed sum.

Icelandic seafood companies have been undergone a number of changes this year, with companies exchanging, buying and selling off parts of their operations.

Tros Ltd was founded in Iceland in 1977 and has been an industry leader in the export of quality fish to Britain, much of which has been sent to Humber fish processors. The company was one of the first to export fresh fish in ocean freight containers and later developed a successful system of shipping fresh fish by air.

www.fishupdate.com is published by Special Publications. Special Publications also publish FISHupdate magazine, Fish Farmer, the Fish Industry Yearbook, the Scottish Seafood Processors Federation Diary, the Fish Farmer Handbook and a range of wallplanners.