Samherji Ltd. increases participation in the fishing industry in the European Union
A board meeting today in Samherji Ltd. endorsed an agreement to buy a 65% share in the German fishery CR Cuxhaven Reederei GmbH. in which Samherji already owns a 35% share. The board also endorsed a purchase by the daughter company Onward Fishing Company Ltd. of a 50% share in Boyd Line Ltd in Hull. The quota allowances of the four companies in the European Union, Samherji owns shares in, sum up to 80% of Samherji´s fishing permits in Icelandic waters.
CR Cuxhaven Reederei GmbH
CR Cuxhaven Reederei GmbH owns the German fisheries DFFU and Elke M in Cuxhaven and a 51% share in the Polish fishery Atlantex. DFFU operates two trawlers and Atlantex one, Wiesbaden, all successfully operated this year. The Sellers of the 65% share in CR are Þorsteinn M. Baldvinsson, Kristján Vilhelmsson, Finnbogi Baldvinsson and Kaldbakur Ltd. which all bought this share from Samherji in the year 2000. The concern was difficult at the time but has after significant rearrangements turned around to a profitable return.
Boyd Line Ltd
UK Fisheries Ltd. has bought all shares in Boyd Line Ltd in Hull. UK Fisheries Ltd. is owned half and half by Samherji´s Daughter Company in Scotland, Onward Fishing Company, and a daughter company of Parlevliet & Van Der Plas B.V. in The Nederlands. The seller of the shares is Kaldbakur Ltd. which bought the shares from Brim Ltd. Onward and Boyd Line will be operated in close cooperation but Onward has so far this year represented Kaldbakur in operating Boyd Line. The concern has undergone significant changes which have already paid off and the company is now showing a positive return.
Samherji will in connection with this purchase increase the shares in Onward but the purchase will otherwise be financed with Onwards equity and a loan taken by UK Fisheries.
Increased ownership in Síldarvinnslan Ltd.
Furthermore Samherji has bought almost 3.6% shares in Síldarvinnslan Ltd. from Fjördur Investment Company ehf. at a nominal value of about 61 million ISK at the rate of 4,25. After the purchase Samherji and Daughter Company Snæfugl ehf. own just over 37% share in Síldarvinnslan hf.
Purchase of a purse seiner
Samherji Ltd. has agreed upon buying a purse seiner from Shetland Islands. The ship is 1214 gross tons combined purse seiner/trawler built in Norway in 1979. The ship has 3400 hp engine and can carry up to 1300 tons. The buying price is around 120 million ISK but a further estimated 20 million ISK investment is needed in order to make the ship fully equipped. The ships total price will therefore be around 140 million ISK. The ship will replace Oddeyrin EA 210.
