30 July 2020
The Minister of Finance and the Minister of Fisheries have granted consent to Westfleet Seafoods Limited to purchase fishing quota under the Fisheries Act 1996 for a period of up to five years and Annual Catch Entitlement from third parties for the next 30 years.
Westfleet is a fishing, processing and sales organisation based in Greymouth, with an office in Nelson. Westfleet employs over 100 people and owns and operates five fishing vessels and a fresh fish processing factory in Greymouth.
Westfleet Seafoods Limited is 50% owned by Sealord Group Limited and 50% owned by Endurance Fishing Company Limited. While Endurance is 100% New Zealand owned, Sealord is ultimately 50% New Zealand owned – meaning that Westfleet is classed as an overseas person under the Overseas Investment Act.
This consent is good news for the West Coast. The quota will allow Westfleet to create additional jobs, increase its exports and make greater efficiencies in catch and processing. They are now also able to build a new cold store next to their existing factory.
Westfleet has much greater scale than other operators on the Coast and they have their own modern fleet of vessels with up to four to five harvesters subcontracted to them. Their processing factory is modern, and they offer a degree of specialisation that other regional industry players do not match.
Westfleet’s success is likely to benefit iwi holding ownership interests in Sealord and further the economic development of the Westland region.
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