Facilities of Ný-Fiskur, a subsidiary of Icelandic Group. (Photo: Sjónvarp Víkurfrétta YouTube)

Icelandic Group sells its subsidiary Ný-Fiskur

ICELAND
Tuesday, December 13, 2016, 00:40 (GMT + 9)

Icelandic Group informed it has settled an agreement with Nesfiskur ehf for the sale of its subsidiary Ný-Fiskur and clarified that this operation does not include the company’s trademark, Iceland Seafood.

The sale is a part of the Iceland Enterprise Investment Fund’s plan to streamline the operations of Icelandic Group, which is fully owned by the Fund.

Recently, the Fund sold another subsidiary of Icelandic Group, located in Spain, to a producer in Iceland.

For the past 30 years, Nesfiskur’s main operations have been based in Garður, Iceland. Additionally, the company has operated freezing and fresh fish production facilities in Sandgerði, also in Iceland, where it has expressed interest in continuing its operations.

Ný-Fiskur specialises in processing and sale of fresh seafood and uses approximately 6.000 metric tons of raw material annually.

The forecasted revenue for year 2016 is ISK 3,000 million (USD 26.9 million) and a large part of the production is exported, by flight, to customers in Belgium and other European countries.

Ný-Fiskur operates a well invested processing facility in Sandgerði and a line vessel, Von GK-113, through its subsidiary Útgerðarfélag Sandgerðis, which has around 800 metric tons of cod equivalents share in the Icelandic inshore quota system. 

“The past few years have been eventful in the operations of Ný-Fiskur were the focus has been on restructuring various parts of the operations. We believe that the future prospects of Ný-Fiskur are bright and are proud to hand over a sound company to the new owners,” pointed out Herdís Dröfn Fjeldsted, Chairman of the Board of Directors, Icelandic Group and Managing Director at the Iceland Enterprise Investment fund.

Icelandic Group is a holding company that manages the company’s subsidiaries’ in the United Kingdom, Belgium and Iceland, specialising in seafood production and sale.

Related article: 

- Icelandic Group sells Spanish subsidiary to Icelandic producers

 
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