September 26, 2014
Fish filleting not paying
The chair of Sealord Group says the Nelson wetfish processing business is unsustainable in its present form.
The company is consulting with staff on a plan to shed almost 100 jobs, and concentrate on processing the fresh and chilled products it can earn more off.
Matanuku Mahuika says the coated products factory that produces boxed products for supermarkets is unaffected.
Some processing is also done at sea in freezer-trawlers.
"The wetfish factory is part of our broader processing operation, but it’s one part of our operation, the onshore processing factory, which isn’t performing well. The cost of running that factory is significantly greater than the return we are able to produce from products that it’s making," Mr Mahuika says.
Sealord’s Maori and Japanese shareholders are both focused on making the business stronger with an eye to the long term.
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