Denmark's Central and West Jutland Police said Friday afternoon a chemical leak resulting from the devastating fire at Atlantic Sapphire's Danish facility was now under control but were still recommending people avoid the site and nearby water due to possible pollution from the dangerous chemical ferric chloride.
The initial warning applied to people who had been at the Langsand area in Hvide Sande to an area called Karen Brands Vej, and a thousand meters off the coast from these areas.
The police added that it was investigating the fire, and would issue an update on Monday.
A massive fire broke out at Atlantic Sapphire's Danish facility on Wednesday evening at 8:20 pm local time, causing "material and substantial" damages to the facility, the company said.
The cause of the fire is currently unknown, but all fish biomass in the Danish facility is expected to be lost. Earlier this year, the company estimated its target production rate at the facility was 2,400 metric tons annually.
Atlantic Sapphire Chief Financing Officer and Managing Director Karl Oystein Oyehaug told IntraFish that the biomass was of "limited financial value," and noted that the largest part of the farm, "Langsand 2," was empty and "fully insured."
The company said in a stock exchange release it is insured against fire and other incidents for a value of $33 million (€28 million).
Atlantic Sapphire saw its share price plunge on Thursday morning following the fire.
The share fell 22 percent since Wednesday's market close, to NOK 36.80 (€3.60/$4.30), knocking almost NOK 1 billion (€98.6 million/$116 million) off its value overnight.
The spectacular share price collapse is a clear indicator that investors are rapidly losing patience with the company, analysts said.
“The market has spoken, and it shows there is a complete lack of confidence in the management team at the moment,” Alexander Aukner, an analyst at DNB Markets, told IntraFish.
“There have been way too many incidents, too close together, and it doesn’t seem like they have control.”
Atlantic Sapphire executives are working quickly to mitigate the fallout and direct attention toward its Miami operation.
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