Lerwick Port Authority

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Changes in shareholding of SFP (Shetland Fish Products) Limited

9th March, 2009

Shetland Fish Products, the company owning and operating the fishmeal and fish oil plant at Heogan on Bressay, Shetland, is now wholly owned by Shetland shareholders.

United Fish Industries, a subsidiary of Irish based public limited company Origin Enterprises plc, has sold its 50% stake in the company to existing shareholders Lerwick Port Authority and Shetland Catch.   The other remaining shareholders are Seafood Shetland and Shetland Fish Producers Organisation.

Sandra Laurenson, Chief Executive of Lerwick Port Authority said “All of the local shareholders are pleased to secure the company and consequently the Heogan plant through this move.  The company will be locally controlled and will focus on success for this plant and its place in the overall local seafood sector.  The Port Authority already owns the piers at Heogan and Shetland Fish Products is valuable for continued use of these assets”.

John Goodlad, Chairman of Shetland Catch said “The fishmeal and fish oil plant at Bressay is an essential component of the local seafood processing sector.  With declining blue whiting quotas, the Heogan plant will concentrate on offal available locally and is complementary to operations at Shetland Catch”.

Management of the company, formerly done through an Agreement with United Fish Industries in Aberdeen, will be transferred to Shetland.  Day to day operations at Heogan will continue with the existing workforce.


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