xt/javascript" src="../../static/js/analytics.js"> Trust helps Johnsons buy new workboat
Shetland Marine News home page Shetland Marine News
in association with
The Shetland News - Shetland's Daily Internet News Magazine
Shetland Marine News home page
Trust helps Johnsons buy new workboat

Latest News
Fish Processing
Oil & Shipping
Leisure & Yachting
Service & Support
Weather Links
Other Links


9 January, 2008

Shetland Development Trust has invested almost £350,000 into a hire purchase agreement to allow a local salmon farm to buy a Norwegian workboat.

Green Island Organics' directors Ivor and Angus Johnson on board their new workboat.The Laika was delivered just before Christmas to Ivor and Angus Johnson of Green Island Organics Ltd, of Vidlin.

The investment firm's project manager Wendy Goudie said: "The company had been hiring a workboat and this hire purchase facility will allow the business to make a long-term investment in a modern vessel enabling Green Island Organics Ltd to further their business efficiency."

Green Island Organics director Ivor Johnson said he was pleased with the trust's involvement.

"This investment has already improved the efficiency of the business. It is also promising to see renewed confidence in the industry and we look forward to continued prosperity in 2008," he said.

Green Island Organics holds licenses for 14 sites around Shetland employing nine people.

Hire purchase is a leasing system for purchasing plant or equipment where the goods do not become the property of the purchaser until the last instalment has been paid. The borrower is required to place a deposit and make periodic (usually monthly) repayments at a flat rate of interest.


Most recent update - Tuesday, 06 May 2008 17:07
All content Copyright
© 2005-2007 Shetland News Agency
This website is financed entirely privately, with no grants, subsidies or public money
Please see our Disclaimer