$33M settlement reached in Atlantic Sapphire fire

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Atlantic Sapphire has been paid $33 million (DKK 180 million) in insurance settlement for the fire that gutted the company’s plant in Denmark on September 15, 2021.

The salmon producer says it is using the settlement proceeds in its US operations and construction and will continue to review the company’s strategy for the Danish operations.

Atlantic Sapphire’s core business is expanding production in the United States, where
it sees the highest return on investment. “The Company has now ensured stable operations in the US and is in the middle of a significant expansion of the production capacity,” it said in a statement on Tuesday.

“The current situation in the world further emphasizes the importance of short
and lean value chains. In the US, we are perfectly positioned to leverage this. The US is currently importing approximately 98 percent of its consumption of Atlantic salmon and we believe there will be an increasing focus and preference for domestically produced food in the years ahead,” it added.