Sealord sells unprofitable Yuken unit in Argentina to local buyer

Tue, 27 Aug 2013

Aug. 27 (BusinessDesk) - Sealord, New Zealand’s second-largest fishing company, has sold its Argentinian unit to local interests for an undisclosed amount, ending a two-year effort to find a buyer and avoiding bankruptcy for the unprofitable business. The sale, effective Aug. 16 “marks the end of a 13-year involvement in Argentina by Sealord during which time the company has incurred significant losses” and marks “an extensive sale process that has lasted more than two years,” Sealord chief executive Graham Stuart said. Sealord, which is joi...

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