July 10, 2013
Nissui to retain Sealord stake
The owners of New Zealand’s largest fishing company Sealord are rejecting reports that the Japanese partner is set to quit because of losses in an Argentinean venture.
Sealord owner Kura Limited is a 50-50 joint venture between pan-Māori company Aotearoa Fisheries and Tokyo-based Nippon Suisan Kaisha, also known as Nissui.
Kura Chair Whai Dewes says both shareholders back Sealord’s plan to sell the Argentinean subsidiary by the end of the financial year.
High inflation and a rampant peso have made the business unviable for foreign owners.
Mr Dewes says Aotearoa’s results for the six months to March 31 were down because of the lower profit coming from Sealord, and revenue from Moana Pacific Fisheries and its wetfish, rock lobster, paua and Pacific oyster businesses also dropped $3 million to $83 million.
Ko ngā raruraru ā Sealord's
Kei te whakahē ā Sealord i te whakapae, e whai whakaaro ana tō rātou hoa pakihi nō Hapāni ki te whakamutu i te noho tahi ki ā rātou, whai muri iho i te kirihaungatanga ō te kaupapa ā Sealord ki Argentina.
E rima tekau ōrau ō Sealord nō Aotearoa Fisheries, otiraa, nō te iwi Māori, e rima tekau ōrau anō nō te ūmanga hapāni ō Nippon Suisan Kaisha.
Hei tā Whaimutu Dewes, māngai mō Sealord, ko te whakaaro ia kia hokona atu ngā hea ō Sealord ki roto i te kaupapa ki Argentina, kia ora anō ai rātou.
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