2009 - a year of change

2009 is past us now, and for Mustad Longline it was a year full of change. First, we were hit hard by the general down-turn in the global fishing industry, as the investment climate in all markets proved to be difficult. we therefore downsized the operations in Gjøvik, Norway and got in place a more lean structure. this includes basing more of the single parts production on out-sourcing to the highly competent manufacturing cluster in our local area.

Towards a more market focused company

In doing this, we also took a few steps towards making Mustad Longline a more market driven company. Less of our activity is now based on production of machinery and more attention is given to solving problems for our longline customers.
We recognize that the global longline fleet has several challenges such as, whale and bird issues, old vessels and limited profitability. We want to be part of solving more of these issues in the future.
The recent agreements made during 2009 with Havyard International, Delitek and Save Wave, all have in common that products and services intended for substantial improvements are being offered to our customers.

New innovations on its way

On top of that, we never rest on our merits being the #1 technology supplier in the world within our business niche. Despite the recent downturn in the market, we have worked tirelessly on our own product innovations. The SelectFish program has made substantial progress and we have high expectations for this year and the ones ahead. Major improvements on the existing product range also give a good basis for upgrading within our existing customers.

The future calls for optimism

As the markets for longline caught fish are again showing signs of recovery, with higher prices of quality fish products, easier access to capital and a drive for more sustainable catching methods, Mustad Longline is well positioned to expand and grow together with our customers. Good partnerships are in bad times as in good. Now we are preparing for the good.

 
We wish all our customers and business partners a Happy and Prosperous 2010.

Christian H. Engh
Managing Director

Mustad Longline as

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