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The Eastern Pride fishing vessel, which has been hired for cleanup duties, pours pink-coloured liquid into the sea

Mowi: Temporary suspension of 10 salmon licences in Newfoundland

Click on the flag for more information about Canada CANADA
Monday, October 14, 2019, 00:00 (GMT + 9)

PRESS RELEASE:

In the wake of recent mortalities of 2.6 million fish (approximately 5,000 tonnes of biomass) on the Coast of Bays, Newfoundland, Canada, Mowi Canada has been informed by the Department of Fisheries and Land Resources of Newfoundland and Labrador that 10 licenses out of Mowi Canada’s 47 licenses in Newfoundland have been temporarily suspended.

An operator carries hand nets to the water to collect matter from the surface of the ocean. (Photo: YouTube video / CBC)

Mortalities were caused by prolonged high seawater temperatures that created low oxygen conditions. All licenses suspended are related to sites experiencing these mortalities. The suspension will to our knowledge not impact our remaining operations in Newfoundland. 

The fish mortalities were insured. Net one-off costs to be recognized in Mowi Canada in the third quarter amounts to approximately EUR 5 million. The impact on Mowi’s harvest volumes for 2019 is expected to be a reduction of approximately 1,000 tonnes GWT.

The Eastern Pride fishing vessel, which has been hired for cleaning, pours pink liquid into the sea. (Photo: YouTube video / CBC)

Mowi Canada holds in total 59 licenses in Canada East, of which 47 in Newfoundland and 12 in New Brunswick. 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

[email protected]
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