Posts Tagged ‘South and central America’
Profit collapse hits major Chilean salmon farmer
The big Chilean salmon farmer Salmones Camanchaca suffered a price collapse during the July to September third quarter period and operating revenue fell despite higher harvest volumes, the company has disclosed. It has blamed lower prices and higher costs as being among the main reasons for the situation. The Atlantic Salmon harvest volumes totalled 17,760…
Read MoreNova Austral rescue plan delayed for fifth time
A decision on the future of the large Chilean salmon farmer Nova Austral has been pushed back yet again. Shareholders were due to vote on a rescue package in the form of a new agreement yesterday, but creditors decided they needed more time to consider what is described as a Revised Organisation Proposal. A decision…
Read MoreNova Austral rescue plan delayed again
The hoped-for financial rescue package for Nova Austral, one of Chile’s principal salmon farmers, has been delayed yet again. Creditors met yesterday to discuss a reorganisation agreement that sets out a number of alternatives. They failed to reach an agreement, however, and in a brief Oslo Stock Exchange statement the company said the meeting was…
Read MoreChile’s Nova Austral moots rescue package
Struggling Chilean salmon farmer Nova Austral is proposing a major financial shake-up to help get it out of its troubles. The company, which filed for bankruptcy protection during the summer, is reported to owe almost US $560m (£461m). Much of that debt is held by just two creditors. Nova Austral said, in a report to…
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