Icelandic companies halt merger talks
One of Vísir’s longliners docked in Grindavík alongside two Thorbjörn vessels

Icelandic companies halt merger talks

The owners of Icelandic fishing companies Vísir and Thorbjörn have brought to an end negotiations towards a merger.

The two companies are based in Grindavík and already co-operate extensively, jointly running specialised producers Haustak and Codland, as well as sharing a joint sales operation in Greece.

Vísir and Thorbjörn began examining the options for establishing a merged operation some months ago, with a number of working groups set up to look into every aspect of what this would entail. As these have now delivered the results of their work, the conclusion has been that at present the negotiations towards a merger will not be continued, although they intend to maintain their close co-operation in a number of areas.

‘It is clear that strong co-operation will benefit the companies and increase their opportunities overseas,’ a spokesman for Vísir commented.

The two companies employ around 600 staff ashore and at sea, and between them have appriximately 44,000 tonnes of quota.