MH bows out of halibut
Marine Harvest announced the controlled liquidation of its subsidiary company Sterling White Halibut, due to poor profitability over time.
Various measures to improve profitability have been undertaken but these have not resulted in sufficient gains. The business has also been marketed for sale, Marine Harvest said in a press release.
The plan was announced at a town hall meeting, and suggests a gradual scaling down of operations, to safeguard the values of the company in the best possible way. Marine Harvest revealed it is also looking at the possibility of providing the halibut company’s employees with alternative jobs in MH.
“Our staff have for years worked hard to create a superior product, but the production of halibut has unfortunately proven very demanding and costly,” says Sterling White’s CEO, Magnus Skretting.
Staff have been informed about the proposal controlled liquidation and discussions with employee representatives have been immediately initiated.
“The employees of the company possess valuable skills. We wish to offer as many of them as possible positions in Marine Harvest Norway,” says MH’s communications manager, Eivind Nævdal-Bolstad.
