Tuesday, June 7, 2011

Australis buys two companies to get more aquaculture concessions

As preparing to open in the Santiago Stock Exchange on June 9, Australis Seafood announced the acquisition of the companies Mitrahues and Galway. According to general manager of the salmon company, Andrew Saint Jean, the acquisition of both companies will facilitate the increase in the number of marine area concessions for salmon farming, which today are 48 areas.

Currently, the two companies account for about 90 applications for new areas for aquaculture, the newspaper El Mercurio reported. Both acquisitions are performed within the planned growth framework by Australis to achieve a production of around 80,000 tonnes of salmon within five years .

The total investment is estimated at US$274 million (€186.68 million). Part of this amount is expected to be funded with US$70 million (€47.692 million) raised at the opening of 12.77 percent of the property in the Exchange. Read more ...

This blog is written by Martin Little, The Aquaculturists, published and supported by the International Aquafeed Magazine from Perendale Publishers
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