The Group constitutes an international network of independent companies, each operating in its own market area in the production and sale of seafood products. In the United States, United Kingdom, France, Denmark and Germany the Group operates processing plants for value added products but in addition there are the sales and marketing companies selling natural seafood products. The sales and marketing companies are located in the United States, United Kingdom, France, Spain and Japan.
Icelandic Group has an annual turnover of about Euro 1 billion. The Company has three main business segments; primary processing, value added processing, and sales and marketing, representing 6%, 69% and 25% of total sales respectively.
Icelandic Group fully owned by Vestia HoldingVestia Holdings ehf. (Vestia), a subsidiary of the Icelandic bank NBI hf., has assumed 100% ownership of Eignarhaldsfelagið IG ehf. (IG Holdings ehf), the parent company of Icelandic Group. This will have no effect on Icelandic Group´s business activities or daily operations but provide strong support to the Group's management in realizing the company's full capabilities.
Two subsidiaries of Pacific Andes request to be declared bankrupt Hong Kong
As part of its restructuring process, Pacific Andes International Holdings (PAIH) announced that two indirect subsidiaries, Golden Target Pacific Limited and Nouvelle Foods International Limited, have filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code.
New fishing technology is 'a double-edged sword' Spain
A research study conducted by the Institute of Environmental Science and Technology of the Universitat Autònoma de Barcelona shows that future improvement of fishing technology poses a threat for the global fishery that could be greater than climate change.
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