Commission – Sanford Talks Conclude

Friday, 16 April 2004, 11:06 am
Press Release: Treaty of Waitangi Fisheries Commission

The Treaty of Waitangi Fisheries Commission confirmed today that it was no longer exploring merger possibilities with publicly listed seafood company Sanford Limited.

A possible merger of Sealord Group Limited and Pacific Marine Farms Limited with Sanford was being discussed between the parties.

Chairman Shane Jones said that while a merger was not being progressed, other opportunities would be looked at in due course. “A full merger right now is not feasible. There were a number of issues that could not be satisfactorily resolved by the boards of the respective companies,” he said.

“Discussions between the companies were positive and amicable and in fact highlighted a number of areas in which the Commission’s companies and Sanford might be able to work together to our mutual advantage; the potential for this would be explored in the future,” Mr Jones said.

The Commission believed there were considerable opportunities for rationalisation to occur in the fishing industry.

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