Norwegian company to buy 50% of Shetland Catch –

Norwegian company to buy 50% of Shetland Catch Published:  20 June, 2007

AUSTEVOLL Seafood ASA (AUSS) has announced that it has entered into a Letter of Intent with Shetland Catch (SCL) for the acquisition of up to 50% of the shares of the Lerwick-based pelagic processor.

The agreement is subject to board approval by the involved parties and a legal and financial due diligence process which will be completed by mid August.

Shetland Catch is the largest processing plant in Europe for pelagic fish with a processing capacity of around 1,000 tones per day, and an annual raw material intake of between 75,000 and 80,000 tones.

As part of the agreement a new sales company will be formed, the principal shareholders of which will be AUSS and Shetland Catch.

Austevoll Seafood is a pelagic fishery specialist with operations in Chile, Norway and Peru. It operates fishing vessels with quotas worldwide. 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.