Looking Back: Marine Harvest merger confirmed - and job cuts
Fish Farmer May/June 2005
The big news of 2005 was the merger that created the world’s largest salmon company.
Marine Harvest, since rebranded as Mowi, came into existence through the merger of two significant players in aquaculture: Netherlands-based Nutreco Holding and Norway’s Stolt-Nielsen.
Nutreco took a 75% stake in the new company and Stolt-Nielsen had 25%. The new company was to employ more than 6,000 people worldwide in fish farming, processing, marketing and sales operations. Total revenue was around €850m.
For Scotland, the merger also meant job cuts. Marine Harvest’s Managing Director in Scotland, Cameron Davidson, warned that plans to reduce the workforce by 25% were underway, including the closure of the processing plant at Scalpay.
He added: “I am genuinely sorry we have had to take this action… the loss of these jobs is painful but it will help to secure the remaining jobs and aid the long term future of the fish farming industry in Scotland.”
Mowi, as it is now, remains the largest salmon farmer in Scotland and worldwide.
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