Business & Finance
Fish and shrimp feed manufacturer BioMar reported an eight percent year-on-year rise in the volumes that it sold in the second quarter of this year, as well as an 11 percent increase in its total revenue to DKK 2.5 billion (USD 382.5 million, EUR 335.2 million). However, severe competition in Norway has impacted the company's volumes to be produced in the second half of 2018.
From the start of the year, BioMar expected general market conditions… Read More
Huon Aquaculture Group Ltd. has delivered a record operating net profit after tax of AUD 35.4 million (USD 25.6 million, EUR 22.6 million) for the year to 30 June, 2018, up 23 percent from AUD 28.8 million (USD 20.8 million, EUR 18.4 million) in the 2017 financial year.
The Australian salmon producer said the improved performance was driven by a record harvest tonnage and strong pricing underpinned by supply and demand market dynamics.
Huon… Read More
Canadian seafood firm High Liner Foods has announced an organizational restructuring amidst falling sales volumes, higher material prices, and the looming threat of costly tariffs.
High Liner President and CEO Rod Hepponstall announced the company is realigning its executive structure by core function instead of geography. The move is expected to save the company an estimated USD 10 million (EUR 8.8 million) and be completed by the end of 2018.… Read More
The race to buy U.K.-based Young’s Seafood is on, with three potential firms currently vying to acquire the frozen food manufacturer for as much as GBP 200 million (USD 255 million, EUR 223 million), according to a recent report from The Telegraph.
Young’s present lineup of bidders includes former private equity owner CapVest, Japan’s Mitsubishi Corporation, and UK Fisheries, the newspaper reported. The deal, which could fetch… Read More
Clearwater Seafoods in Halifax, Nova Scotia, Canada have reported a growth in profits on a slight dip in sales.
The company’s second quarter filing shows adjusted earnings before interest, tax, depreciation and amortization (EBITDA) grew 10.7 percent to CAD 30.5 million (USD 23.3 million, EUR 20.3 million). Sales for the period were CAD 148.1 million (USD 113.2 million, EUR 99 million), a four percent dip from CAD 154.3 million (USD… Read More
Atlanta, Georgia, U.S.A.-based Inland Seafood has hired Mary Smith as its director of sustainability, the supplier announced on 7 August.
In the newly-formed leadership position, Smith will work closely alongside Inland’s marketing, sales, and purchasing teams, formalizing the company’s sustainability initiatives and developing engaging creative campaigns that effectively communicate the value of responsibly-sourced seafood to… Read More
Chilean animal protein giant Agrosuper will halt plans to list Chile’s largest national salmon farmer AquaChile on the Oslo Bors exchange, and is strengthening its salmon business to grow its global exports.
Agrosuper announced on 4 August it had reached an USD 850 million (EUR 736.4 million) agreement to buy 67 percent of AquaChile from Holding Salmones Ltd. and Inversiones Patagonia Ltd., Agrosuper will pay USD 0.73 (EUR 0.63) per… Read More
AquaBounty Technologies’ net loss grew in the first six months of this year, due in part to costs at its salmon farm in Indiana, U.S.A. However, the Maynard, Massachusetts-based biotech firm completed the second sale of AquAdvantage salmon from its Panama farm.
AquaBounty, a producer of genetically modified salmon, did not reveal the retail buyer of the salmon, but it did report that its product revenues rose from USD 53,278 (EUR 46,000)… Read More
Dubai, United Arab Emirates-based private investment company Sokotra Capital Ltd. has completed its acquisition of AT, one of the largest sea bass and sea bream hatchery and nursery businesses in North Africa.
Founded in 1988, AT has a current annual production capacity of 20 million fingerlings and 1,500 metric tons (MT) of fish per year.
Sokotra said the acquisition reiterated its investment strategy which is focused on “the highly… Read More
Young’s Seafood Ltd. has appointed Billy Storer as head of operations at its Humberstone Road site.
In the new role, Storer will take on responsibility for all manufacturing operations at Young’s Humberstone Road and Annan Port Street (Scampi) sites. He will also oversee the expansion of Humberstone Road as it becomes the company’s largest facility.
With more than 30 years experience across food and drink… Read More