Canadian company buys Galway based seaweed companyFriday 04 July 2014 23.00
A Connemara based seaweed processing has been bought out by a Canadian company.
Arramara Teoranta employs 20 people at its facility in Chill Chairáin
Acadian Seaplants, a multi-national corporation with interests in North and South America bought the facility.
The company says it is planning an initial €2m investment in Co Galway.
It says further funding will follow for research, product development and capital expenditure.
Arramara purchases seaweed from around 300 local harvesters before drying and milling the product for supply around the world.
Údarás na Gaeltachta, which took over the running of the company in 2006, decided that outside investors were needed following a review of the operation.
The agency's Chief Executive Steve Ó Cúláin said the takeover would help realise the full potential of the seaweed industry in the Gaeltacht.