Business & Finance

Published on
December 20, 2018
Tropical Aquaculture Products

If you ask John Cutler, his return to seafood production seems both inevitable and serendipitous. 

Cutler, a veteran of the telecommunications industry, was recently hired by seafood sales, distribution, and marketing firm Tropical Aquaculture Products, Inc. as its new vice president of business development. He worked for T-Mobile USA when it was a start-up, and stayed with the firm through its exponential growth into the mid-2000s.

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By

Colin Bennett

Published on
December 13, 2018

Chilean protein producer Agrosuper has received approval from authorities in Chile and the United States to go forward with its planned public offer of shares (OPA) to acquire 100 percent of Chilean salmon farmer AquaChile.

The deal was announced in August of this year. In Chile, the government’s national economic authority (FNE) found that the purchase would not result in undue concentration of the market, ruled out any

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By

Cliff White

Published on
December 11, 2018

Anders Jonas Brøns, the co-owner and CEO of Vodskov, Denmark-based Polar Seafood, was found dead outside a waterside restaurant in Aalborg, Denmark on Friday, 7 December.

No foul play is suspected, police told Greenland newspaper Sermitsiaq. Polar Seafood Henrik Leth told Danish newspaper Ekstra Bladet Brøns had a business meeting earlier in the evening at the restaurant.

“I'm definitely also sure it's not suicide,” he

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By

Christine Blank

Published on
December 11, 2018

ConAgra’s closing of two Pinnacle offices will eliminate around 500 jobs; including, potentially, some employees of its Mrs. Paul’s and Van de Camp’s brands. 

Chicago, Illinois, U.S.A.-based food manufacturer Conagra Brands bought Pinnacle, the maker of Mrs. Paul’s, Van de Camp’s, and other popular food brands, for USD 10.9 billion (EUR 9.6 billion) in June.

Now, Conagra plans to close Pinnacle’s former

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By

Colin Bennett

Published on
December 10, 2018

Chilean salmon farmer Camanchaca said an increase in the harvest and sale of salmon during the third quarter of 2018, along with improved sanitary conditions for Atlantic salmon, led to an increase in many of its financial metrics.

Revenue for the quarter increased 59.7 percent year-over-year to reach USD 156.7 million (EUR 137.6 million) in the quarter. Revenues for the accumulated nine months of 2018 reached USD 482 million (EUR 423 million),

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By

Cliff White

Published on
December 4, 2018

Topsfield, Massachusetts, U.S.A.-based East Coast Seafood Group has announced that chief executive officer Chris Maze has left the company.

Maze has been named the head of Pescanova USA, the U.S. subsidiary of Spanish seafood conglomerate Pescanova, according to Europa Press.

Brad Hudson, a principal of Forum Capital, which is a primary investor in East Coast Seafood Group, has been tapped to serve as the company’s interim CEO following

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By

Jason Holland

Published on
December 3, 2018

A share of the latest round of European Maritime and Fisheries Funding (EMFF) awards has been granted to 29 fishery and aquaculture projects across Scotland, totaling GBP 4.8 million (USD 6.1 million, EUR 5.4 million).

“This seventh round of EMFF grants will provide a vital financial ‘leg-up’ to projects from the Shetland Islands to Dumfries and Galloway – with the nearly GBP 5 million invested helping to support the

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By

Mark Godfrey

Published on
November 29, 2018

Even though Chinese demand for seafood continues to rise, there appears to be a major disconnect between the performance of China’s leading seafood firms and the prices of their public shares, suggesting a lack of investor confidence. 

For the first three quarters of 2018, revenue at Zoneco (Zhangzidao) totalled CNY 2.1 billion (USD 302 million, EUR 266 million), up 9.42 percent year-on-year. However, its profits – at CNY 23.38

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By

Christine Blank

Published on
November 28, 2018

Maynard, Massachusetts, U.S.A.-based genetically engineered farmed salmon producer AquaBounty Technologies has named a new CEO, 

Effective 1 January, Sylvia Wulf will serve as the producer’s new CEO and executive director, while longtime CEO Ronald Stotish will move into a different role. 

Currently, Wulf is a senior vice president and president of the manufacturing division at distributor US Foods, and she serves on the board of

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By

Steve Bittenbender

Published on
November 28, 2018

The Jones Act waiver for America’s Finest is now heading to U.S. President Donald Trump.

On Tuesday, 27 November, the U.S. House of Representatives approved by voice vote the Coast Guard Authorization Act, concurring with the changes the U.S. Senate made in approving the bill two weeks ago.

The waiver, if the bill is signed into law by Trump, would allow Fishermen’s Finest to replace its two current fishing boats with America’s

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