Scottish Salmon Company launch new jobs in the Hebrides

Formerly Lighthouse Caledonia, the Company, which accounts for around 20% of the country’s production of salmon, has been renamed to build on the premium reputation of Scotland and Scottish salmon.

The Scottish Salmon Company will now, as of July 8th 2010, trade shares on the Oslo Axess Stock Exchange. The move marks a significant milestone for the Company, which currently employs nearly 250 people mainly in the Hebrides and the remote West Coast of Scotland, following major restructuring in 2009.

Mike Corbett, Chief Executive of The Scottish Salmon Company, said:

“The Scottish Salmon Company brand fully reflects the ethos and culture of our company. It highlights our respect for the quality of Scottish produce and the fact we are an independent Scottish company, as well as the integral role we play in the rural communities in which we work.

“The new structure ensures we have a strong base for developing a significant Scottish business and makes a more efficient and effective corporate force, uniting the Company’s operational and industry expertise under one strong and sustainable umbrella brand which reflects the pride we have in the provenance of our salmon.”

Having capitalised on strong market conditions and improved production processes, the Company reported a record £63m turnover for 2009. It is committed to building a sustainable business within Scotland’s rural communities with a superior quality product, a vigorous brand strategy and by securing long-term market opportunities.

The new brand will also become a mark of excellence for health and wellbeing, and we will unveil the Company’s new healthy living initiative over the coming months. Dr George Kerr, Scotland’s distinguished Judo 10 DAN will front the initiative with masterclasses linked to healthy eating and wellbeing.

Jim Mullins, Chairman of The Scottish Salmon Company led the restructuring of the Company, including a major refinancing exercise in March 2009. He added:

“This is an exciting phase for the Company and we relish the opportunities that lie ahead to continue growing a strong, sustainable and proud Scottish business.

“Our aim is to expand the company significantly. We are re-opening the Stornoway processing plant in the autumn with the creation of 70 jobs and see this as a springboard to growing and developing our Hebridean operation. We plan to develop the business and strengthen our position in the Scottish salmon industry.”

Roseanna Cunningham, the Environment Minister, lent her support to the company, saying:

"Scottish aquaculture is a major success story for Scotland and an important asset to our rural economy. Primary salmon production each year generates more than £35 million in local wages primarily in the Highlands, Shetland, Argyll & Bute, Western Isles and Orkney.

"I launched the Government's Fresh Start Framework last year to tackle a number of issues facing the industry and to help create a sustainable way forward. Better marketing of farmed fish, along with measures to manage planning and development and encourage training and development, are all part of Scotland's aquaculture future."