Resolution Of Sealord Deal Welcome

Wednesday, 17 January 2001, 1:50 pm
Press Release: Seafood Industry Council

Seafood Industry Welcomes Resolution Of Sealord Deal

The New Zealand Seafood Industry Council (SeaFIC) has welcomed the resolution of the Sealord deal.

The Treaty of Waitangi Fisheries Commission and Nippon Suisan Kaisha Limited (Nissui) successfully made a joint bid for BIL’s 50 percent shareholding in New Zealand Seafood company Sealord.

As a result Sealord is to be restructured. The commission is to own all of Sealord’s fishing quota, which equates to 23 percent of all New Zealand quota by volume, while the Sealord operating company will be 50 percent owned by the commission and 50 percent owned by Nissui.

SeaFIC Chairman Dave Sharp said he was pleased the matter had finally been resolved.

“It will allow Sealord to move forward under an ownership structure that has already indicated an intention for Sealord to increase the positive contribution it currently makes to New Zealand’s seafood industry, ” Mr Sharp said.

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