Icelandic fishing cooperative VSV Seafood, a subsidiary of Vinnslustodin, announced it established a subsidiary in Finland.

VSV Finland, which began operations in November, will sell and market Icelandic and other Nordic seafood products in Finland, as well as elsewhere in Europe.

Mika Jaaskelainen, formerly managing director at Helsinki-based seafood supplier Kalatukku E. Eriksson, has taken the role of CEO for the subsidiary.

In October, the company reached an agreement to acquire a processing group and fishing vessel from shipping company owner Sigurjon Oskarsson and his family.

Under the terms of the deal, VSV will acquire Vestmannaeyjar-based Leo Seafood, which processes and sells around 5,500 metric tons of raw material annually, including fresh and frozen cod and haddock fillets and salt fish for the Spanish market.

The company also a sales and import arm, Leo Fresh Fish, in Boulogne-sur-Mer, France, supplying fresh cod, haddock and saithe loins.

With 300 employees, VSV employs seven percent of the island of Vestmannaeyjar off the south coast of Iceland where the company was founded.