Marine Harvest, the world's biggest salmon farmer, is to bring together Pan Fish Scotland and the Stornoway-based Outer Hebrides Seafood as Lighthouse Caledonia Group and float the company on the Norwegian stock market, writes Simon Bain.
The news came as the company posted a third-quarter loss, caused by low salmon prices, a serious outbreak of infectious salmon anaemia in Chile and the costs of integrating acquisitions.
Marine Harvest, itself, had been due to float last year but the plans were scrapped when it was taken over by Norwegian group Pan Fish in March 2006.
The flotation ends uncertainty for Outer Hebrides Seafood, which employs 190 people. It was designated for an independent flotation, along with Pan Fish Scotland, which was the subject of takeover talks with Norskott Havbruk, owner of Scottish Sea Farms, until the talks broke down in July.
Pan Fish Scotland has 169 employees and 31 sea sites from Loch Eriboll in north-west Sutherland to Loch Fyne in Argyll, as well as freshwater sites, two hatcheries and a processing facility at Cairndow on Loch Fyne.
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