27 May, 2009

FISHMEAL producer Shetland Fish Products yesterday (Tuesday) gave an upbeat outlook on its business prospects now that the company is wholly owned by local shareholders.

In March the company announced that pelagic fish processor Shetland Catch and the Lerwick Port Authority had bought out the 50 per cent stake owned by Irish multinational Origin Enterprises.

Since then former managing director Helge Korsager has been brought out of semi retirement and appointed executive director to help forge even closer links with the local fisheries scene.

Mr Korsager said the fish meal sector was facing challenges in the light of reduced blue whiting quota, but added that the local ownership of SFP was making a difference to the operation.

SFP employs eight people on the island of Bressay overlooking Lerwick and its busy harbour.

Mr Korsager said he and manager Brian Pottinger were keen to make the factory a valuable part of Shetland's seafood industry.

"The new set up will help Shetland Fish Products to remain strong in the current climate and look for new ways to stabilise the industry in the face of declining blue whiting quotas.

"Our business will be mainly based on trimmings and we plan to work closely with Shetland Catch to complement their operations.

"We have an important role to play in the immediate economy of Bressay and of Shetland as a whole. We are an integral part of the social and economic wellbeing of the islands and we take that role very seriously," he said.

The processing unit at Heogan, on Bressay, has been substantially modernised over recent years and Mr Korsager added that there was no requirement for any major investments at this time.

"However, we will continue to monitor our efficiency and operations to keep one step ahead of our global competitors," he said.