Fish farm sale saves 32 jobs
THE PURCHASE of an Anglesey-based fish farm from administrators has saved 32 jobs.
The high-tech farm was built in 2002 and produces around 1,00 tones of sea bass each year for the UK market.
It had been operated by Selonda (UK) – a joint venture between the Greek government and a Saudi Arabian business called Jazadco.
Around 50% of the cost of building the farm at Beaumaris came from public funding pots, and the company received further government cash last year to help pay for electricity supplies.
Joint administrators from PwC were appointed to the business on January 4. It said Selonda (UK) had faced challenges in pioneering its technology and production techniques, which caused cashflow problems and eventually led to it exhausting its funding.
However, administrators have subsequently agreed a sale of the firm’s business and assets to a company called Anglesey Aquaculture.
Roger Hale, joint administrator and director at PwC, said: “We are pleased to have secured a sale of the business that protects 32 jobs in North Wales and secures value for the creditors of Selonda (UK).
“The sale provides an opportunity for the further development and growth of the business and I look forward to seeing it prosper under the ownership of Anglesey Aquaculture.”
