Leroy fears new government proposal could mean 20% quota cut

Company asks government to hear its input to help the development of the sector.

Leroy Seafood critiqued a new proposal announced by the Norwegian government Friday that could imply a quota reduction of 20 percent for the group.

“Should the government adopt the proposed changes, this will have an impact on operations for Leroy’s subsidiaries Havfisk and Norway Seafoods,” the group said.

The proposal is the result of a consultation process in which Leroy took part, but the company claims it hasn’t had the opportunity to gain “in-depth knowledge of the proposal yet.”

Leroy said it will study the proposal carefully, including legal aspects but added that it is “essential for the group to sustain its raw material basis to substantiate its long-term industrial investments both at sea and on land.”

In a note sent to the Oslo stock exchange, Leroy said it is satisfied that the government is addressing the need for a modernization of the current framework for the trawling industry, but added it hopes that the company’s input in these discussions is heard.

“So that the final resolution provides the best possible grounds for the future development of our sector," the company said.

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