Buyer found for Skaginn assets

An agreement has been reached for the purchase of the assets of the Icelandic  seafood processing equipment company Skaginn 3X, which filed for bankruptcy in the summer.

A group of investors with the firm KAPP, another Icelandic technology company,  will buy all the equipment and liquid assets of the Skaginn estate in Akranes.

Skaginn 3X, was a well-known name in the world of seafood processing equipment, but it  filed for bankruptcy four months ago after  Baader, its German parent company, failed to turn the business around.

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Iceland fish farmer signs major finance deal

Laxey, one of Iceland’s younger salmon farming companies has signed a financing agreement with Arion Bank for an undisclosed sum to support its plan to operate a facility on land in Vestmannaeyjar, the country’s western isles.

It says the agreement is an important part of Laxey’s long-term operations and supports the company’s continued development.

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Iceland calls snap general election

Beautiful reflection of the parliament house Althing of Reykjavik in lake Tjornin

The Icelandic Government has collapsed and a snap general election has been set for 30 November. The result could make a difference for Iceland’s growing aquaculture sector, with rival parties taking very different stances on its future.

Prime Minister Bjarni Benediktsson surprised everyone at the weekend when he announced the end of the current coalition between his Independence Party and the Progressive and Left Green parties. He plans to stand again for government. 

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Iceland salmon exports take off

salmon jumping

The export value of Icelandic farmed fish has reached more than £150m (ISK 27.3 billion) during the first seven months of 2024, according to the latest official figures.

Statistics Iceland said most of this was due to higher salmon sales. Iceland’s salmon exports between January and July this year totalled ISK 22.4bn (almost £124m), 28% higher than in the same period in 2023.

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High salmon prices hit Icelandic supplier’s sales

Seafood supplier Iceland Seafood International (ISI) has reported a positive turnaround during the first six months of this year, but high salmon prices early on in the period have continued to affect sales.

The group, which sold its Grimsby operation more than a year ago, reported revenues totalling €98.2m (£82m) which were only marginally down on the previous period in 2023.

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