Business & Finance

Published on
December 1, 2017

Russian Aquaculture has announced it will conduct a secondary public offering on the Moscow Stock Exchange, where the producer is now listed. 

Funds gained through the SPO will go to finance general corporate needs and an extensive investment program aimed at becoming one of the biggest producers of Atlantic salmon across the globe, the company said.

Russian Aquaculture operates Atlantic salmon farms in the Barents Sea, trout farms in the Re… Read More

By

Steve Bittenbender

Published on
December 1, 2017

InnovaSea Systems has purchased a Canadian company that officials from the Boston-based firm said will help it build upon its aquaculture base.

Financial terms for acquiring Amirix Systems, a deal which InnovaSea announced on Thursday, 30 November, were not released.

Created in 2015, InnovaSea designs open-ocean aquaculture systems and helps farmers by developing environmentally focused and sustainable technologies for fish farmers. 

Amirix… Read More

By

Gao Fu Mao

Published on
November 30, 2017

China’s leading producer of feed for the aquaculture sector has posted strong growth for the first three quarters of 2017, driven in particular by demand for premium products from producers of more expensive fish species like pomfret and croaker.

Guangdong Haid saw revenues grow 32.6 percent year-on-year to CNY 26.5 billion (USD 4 billion, EUR 3.38 billion), while net profits, at CNY1.14 billion (USD 172.4 million, EUR 145.4 million), were … Read More

By

Steve Bittenbender

Published on
November 30, 2017

As the United States Senate debates whether to pass a tax reform bill, the tiny territory of American Samoa is hoping a proposed tax credit extension will stick with the proposed legislation.

U.S. Delegate Aumua Amata, America Samoa’s non-voting congressional representative, said extending the American Samoa Economic Development Credit is a needed to entice investment and keep jobs in the southern Pacific territory that relies heavily on th… Read More

By

Jason Holland

Published on
November 30, 2017
Birds Eye

European frozen food business Nomad Foods – the parent company of brands Birds Eye, Iglo, and Findus – reported revenues of EUR 459 million (USD 543.3 million) for the third quarter of this year, representing an increase of 4.4 percent year-on-year. Its profit after tax for the three-month period increased two percent to EUR 42 million (USD 49.7 million), reflecting interest rate savings and lower depreciation and amortization.

Q3 201… Read More

By

Steve Bittenbender

Published on
November 29, 2017

A new leader has taken over at North Pacific Seafoods, Inc.

In an announcement made last week, Dave Hambleton joined the Seattle, Washington-based processor on Monday 27 November. Hambleton, who will serve as North Pacific’s president and chief operating officer, is a veteran seafood executive, having managed millions of pounds of production of pollock, salmon, crab, and other products for over a 25-year span as an executive at Trident Seaf… Read More

By

Colin Bennett

Published on
November 28, 2017

The current president of Chile’s Salmon Industry Association has announced he will not pursue a third two-year term, and is apparently headed to the board of directors of Camanchaca, ahead of a public listing.

SalmonChile’s Felipe Sandoval, who has held the role of president for four years, announced his decision at the association’s general assembly on 14 November in Puerto Varas, according to local business publication EconomiRead More

By

Madelyn Kearns

Published on
November 28, 2017
Jeff Fort

Delta Blue Aquaculture’s Jeff Fort has signed on with the Global Aquaculture Alliance as its new chief operating officer, adding to his existing role as chief financial officer, the organization announced in late November.   

Fort, who has been involved with GAA since it was created in 1997, has been CFO since 2012, and is a member of the organization’s board of directors and executive committee. His company, Delta Blue Aqua… Read More

By

Jason Holland

Published on
November 27, 2017
SSC Hebridean salmon

The Scottish Salmon Company (SSC) harvested 6,791 metric tons (MT) of farmed salmon in the third quarter of this year, up from 5,486 MT in Q3 2016, achieving a record revenue for the three-month period of GBP 39 million (USD 51.7 million, EUR 43.9 million), an increase of GBP 13.8 million (USD 18.3 million, EUR 15.5 million) year-on-year. 

The Edinburgh, Scotland-headquartered company confirmed that the increased revenue was driven by higher… Read More

By

Christine Blank

Published on
November 22, 2017

London, United Kingdom-based YO! Sushi has announced the acquisition of Ontario, Canada-based Bento Sushi, North America's second-largest sushi brand, for CAD 100 million (USD 78 million, EUR 66.6 million), allowing the two chains to further expand internationally.

The two restaurant groups had sales of more than GBP 175 million (USD 232 million, EUR 197 million) over the last year. Bento, which realized sales growth of 16 percent over the last t… Read More