Atlantic Sapphire invests Denmark insurance settlement in US facility & More News Here

The announcement, printed in Market Screener, says that the insurance settlement from the 15 September 2021 fireplace at its facility in Denmark got here out to $25.5 million (DKK 180 million).

The facility’s guide worth on the time of the fireplace was roughly $33 million and the insurance course of has recognized roughly $4.25 million (DKK 30 million) of buildings and tools had been undamaged by the fireplace. The firm additionally has permits, a long-term land lease and a tax loss carry-forward.

The announcement stated that the corporate is free to determine how the insurance proceeds are used and that its board has opted to place the settlement proceeds to its US operations and building. Atlantic Sapphire’s new land-based facility in Florida will seemingly profit. The board will proceed to overview the corporate’s technique for its operations in Denmark.

Atlantic Sapphire stated its core enterprise is increasing manufacturing in the US the place the corporate sees the very best return on funding. It added that it has now ensured secure operations in the US and is in the center of a big growth of the manufacturing capability.

“The current situation in the world further emphasises the importance of short and lean value chains,” the corporate stated.

“In the US, the Company is perfectly positioned to leverage this. The US is currently importing approximately 98 percent of its consumption of Atlantic salmon and the company believes there will be an increasing focus and preference for domestically produced food in the years ahead.”

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