View of a New Zealand King Salmon farm.
Photo: New Zealand King Salmon.
The Board of New Zealand King Salmon Investments Limited has confirmed the purchase of a commercial site for $8.14 million, located in the Cloudy Bay Business Park in Blenheim, in the northeast of the island.
The salmon producer has confirmed that this acquisition aligns with its future processing needs in relation to the Blue Endeavour project, which will be the first open ocean salmon farm in New Zealand. In 2022, the company announced that it would enter into mediation talks with certain parties to get the approval of this project.
However, the Board has also confirmed that no final decisions have been made regarding the development of this project and that any changes to current operations are expected to take at least three years to materialize.
"Nelson's infrastructure will remain key to NZK. Nelson will continue to serve as the base for our research and development, corporate (head office) functions, and will continue to host some of the plant’s processing operations," the statement reads.
NZK halved its profit forecast for 2026 to reduce harvest volumes for approximately 4 months to rebuild biomass. This came after it had been hit by lower-than-expected growth due to warmer water problems.
Furthermore, the company announced in late August that it is seeking a new Chief Financial Officer, as Ben Rodgers will be stepping down from the role this autumn.
