Last Updated: Thursday 24th of June 2010 01:47:00 AM -0500CDTNorwegian aquaculture company Marine Farms ASA (OSL: MAFA) said Wednesday it is currently reviewing a number of options, including the possibilities of selling its loss-making cobia farm in Belize.
The cobia farming operation in Belize continues to generate negative results, mainly due to the delays in the production of juveniles, the Norwegian aquaculture producer stated.
Marine Farms said significant capital has been invested in the development of this business and a preliminary assessment indicates an impairment of approximately NOK 35 million (USD 5.4 million) in the consolidated accounts of the second quarter of 2010.
The business continues to generate negative results, mainly due to the delays in the production of juveniles, the company said. Significant capital has been invested in the development of the operations. A preliminary assessment indicates that an impairment of around NOK35m will be booked in the second quarter of 2010.
Marine Farms also has cobia-farming operations in Vietnam.
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