Grieg Seafood NL values openness and we’re committed to sharing honest information with our employees, regulators, investors, the communities in which we operate, and media. It is important for us to publicly address misinformation circulating about our operations in Newfoundland and Labrador.
Post Smoltification (PSA) Facility Construction
The construction of our PSA facility has faced a number of challenges. Most significant was the impact of the COVID-19 pandemic on both supply chain and in-person work restrictions. On December 23, 2024 Grieg Seafood NL updated employees and stakeholders on its decision to pause building works this winter and resume in spring 2025 when weather and temperature conditions are best suited for critical concrete work. During this time, the project will focus on optimizing the further building process, based on cost and efficiency. The PSA project delay will not impact our current production schedule, nor will it have any direct impact on Grieg Seafood NL freshwater employees. We look forward to continuing to work with the project’s contractor in spring 2025.
Employee Layoffs
There have been no senior management layoffs at Grieg Seafood NL, and there are no plans for mass layoffs. Any temporary layoffs related to our PSA construction pause are employees of the project contractor. Over the past year, we have transitioned from a construction and start-up to an operational fish farm. Like any business, Grieg Seafood NL adjusts its workforce to safely support its business goals. From 2022 to 2024, our number of full-time employees has grown from 103 to 111.
Grieg Seafood NL for Sale
Grieg Seafood is a publicly-traded company. Our investors regularly receive information about our company’s operations and performance. In November 2024, Grieg Seafood publicly released its Q3 report and some media outlets reported news on the potential sale of Canadian operations. Grieg Seafood has been open about its search for potential partners in Canada, and its position has not changed. It is looking for a potential partner to support our current and future operations in Newfoundland. When a partnership is found, or in the event that an offer to purchase is received, information will be shared with employees and stakeholders. Investors and partnerships are normal business for publicly-traded companies.Grieg Seafood Newfoundland remains committed to farming healthy Atlantic Salmon in Placentia Bay. We remain committed to long-term employment and career opportunities on the Burin Peninsula. We remain committed to investing in local communities and the Newfoundland and Labrador economy. Most importantly, we remain committed to sharing honest and transparent information.