Icelandic fishing and processing company HB Grandi, one of the largest-vertically integrated fisheries operations in the country, can be expected to change its name shortly.
A shareholders’ meeting held yesterday saw a motion to adopt the Brim name accepted by more than 90% of shareholders.
A complex round of changes has taken place since a large shareholding in HB Grandi was acquired by Brim, which subsequently changed its name to Útgerðarfélag Reykjavíkur (ÚR), presumably to free up the Brim name. There have been changes in the company’s management and assets moved from one to another, while ÚR has also divested itself of much of its fishing capacity as two factory trawlers were sold to Russian companies.
Also passed by a 89% majority of shareholders at yesterday’s meeting was a proposal for HB Grandi to purchase the Hong Kong-, Japan- and Qingdao-based sales operations linked to ÚR, along with their service operation based in Iceland, with the purchase to be made using shares from an expanded shareholding in HB Grandi – which is likely to be renamed Brim before long.