Marine Harvest describes ISA's scope of damage

Álvaro Jiménez, General Manager of Marine Harvest Chile since February has had a lot of reorganizing and recalculating to do since taking on his new post. Following the big merge between Fjord Seafood and Marine Harvest in 2006, Jiménez said that the expected production forecast for 2009 would be 150,000 of harvested tons. But since ISA started revealing itself in 2007, the result is that for 2008 the company will be lucky to harvest 100,000 tons, and for 2009, they are hoping for 70,000 tons.

These estimates translate into a projected loss of US$ 250 million for the company, explained Jiménez in the Diario Financiero.One man's loss however is another man's gain, and Mario Montanari, owner and director of the company Invermar (the first Chilean owned salmon company to go on the stock market) states, "The price of salmon has been at a high plateau, but it is now steadily increasing because the supply has diminished due to the problems in Chile, particularly with Marine Harvest. When Wal-Mart comes looking for you, it is obvious they're doing it to not have to depend so heavily on Marine Harvest."