By SeafoodSource staff
Published on Monday, December 02 2013
Canadian aquaculture firm AgriMarine has purchased steelhead trout producer West Coast Fishculture (WCFC) for CAD 5.2 million (USD 4.9 million, EUR 3.6 million).
AgriMarine, of Vancouver, British Columbia, announced that the WCFC, also of British Columbia, will become AgriMarine's flagship production site., while WCFC's founding management team will continue to operate the farm.
"Our plan is to install our proprietary AgriMarine System rearing tanks at WCFC, where we will focus on accelerated crop turnover and demonstrate the performance benefits of our closed containment technology," said Sean Wilton, AgriMarine President and CEO. "We believe that WCFC's established steelhead operation, fish inventory, hatchery, and skilled manpower, combined with AgriMarine's technology, will provide a strong head start to scale up fish production in British Columbia.
The company is seeking regulatory approval to proceed with the acquisition. The announcement follows a release in September where the company closed its convertivle loan worth USD 10 million (EUR 7.4 million).