Brief: Grieg Seafood Discontinues Operations In Skye

Grieg Seafood ASA

18/09/2020 08:04

Sept 18 (Reuters) - Grieg Seafood ASA  GRIA.OL :
    * REG-GRIEG SEAFOOD ASA: DISCONTINUES OPERATIONS IN SKYE,
TAKING
LOSS OF NOK 100 MILLION IN Q3 2020
    * REMAINING FISH IN AREA WILL BE HARVESTED IN Q4 2020 - Q1
2021,
WITH EXPECTED HIGH COST AS A RESULT OF INCIDENT
    * COMBINED WITH WEAK MARKET PRICES IMPACTED BY COVID-19
PANDEMIC,
AND LOW HARVEST WEIGHT, EVENT WILL IMPACT GRIEG SEAFOOD'S RESULT
FOR Q3 NEGATIVELY WITH APPROXIMATELY NOK 100 MILLION
    * MAIN OPERATIONS IN SCOTLAND, ON SHETLAND ISLES, HAS HAD A
GOOD
AND STABLE BIOLOGY SO FAR DURING QUARTER AND GRIEG SEAFOOD'S
GUIDING OF 95 000 TONNES HARVEST IN 2020 REMAINS
    * BIOLOGICAL CHALLENGES EXPERIENCED DURING JULY-SEPT CAUSED
MORTALITY EVENT, DUE TO ABNORMAL LEVELS OF JELLYFISH, WHERE 627
000 INDIVIDUAL FISH OR 1 500 TONNES WERE LOST
    * OPERATIONS AT IMPACTED SITES WILL BE DISCONTINUED
IMMEDIATELY
    * OPERATIONS AT TWO REMAINING SITES WILL BE SHUT DOWN AFTER
HARVEST IN Q4 2020 - Q1 2021

Source text for Eikon:  ID:nGNE6RxqY2 
Further company coverage:  GRIA.OL 

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