Pelagia Shetland Ltd
Following the announcement in December 2016 that Pelagia will increase their ownership in Shetland Catch Ltd to 75%, the owners of Shetland Catch have now concluded an agreement to secure the future of the company.
Transition of integration of the administration and operations at Shetland with Pelagia’s Bergen headquarters has started and the new arrangements will provide a platform to reinvigorate the Shetland factory’s full potential.
The short operational seasons and prevailing international market conditions for recent winter mackerel are particular challenges faced by Shetland Catch. It has become necessary to restructure the company and this has started with a new board of four non-executive directors – two from Pelagia and one each from the Shetland owners, Shetland Fish Producers Organisation and Lerwick Port Authority.
In addition to the structural changes now underway and with the Shetland operation becoming part of the larger pelagic player, the company’s name will change to Pelagia Shetland Limited.
The plant at Lerwick is to be developed over the coming months with roe extraction equipment to be ready for the summer herring season starting in July. This will build on the past positive herring season with plentiful fish stocks in the area.
Outgoing Chairman John Goodlad said “This integration between the two companies enables Shetland Catch to realise its full potential as one of Europe’s largest pelagic processing plants.”
“Having been a founder of Shetland Catch and chairing the board for the past eleven years, I believe that this is the right time for me to step down and I wish the company every success for the future.”