June 12, 2008

New chairman takes the helm at Marine Produce Australia
 
 

The directors of Marine Produce Australia Limited announced the appointment of Miles Kennedy, as Non-Executive Chairman.

Marine Produce Australia is an aquaculture company listed on the Australian Stock Exchange. The company farms barramundi at Cone Bay in Western Australia. 

Kennedy is a businessman and lawyer who has over 25 years experience in both executive and board positions in the resources industry.

He is currently the Non-Executive Chairman of Sandfire Resources NL and Resource & Investment NL, and was one of the founding directors and the Chairman of Kimberley Diamond Company NL for 14 years from 1993 until 2007.

Kennedy was also a Director and Chairman of Blina Diamonds NL from 2004 until 2007, and Executive Chairman of Macraes Mining Company which developed the largest gold mine in New Zealand (now Oceana Gold).

MPA's Managing Director, Nicholas Miller, said he was delighted to welcome Mr Kennedy to the Board, adding that he is a valuable asset to the company as it expands its Cone Bay Saltwater Barramundi farming business.

MPA produces saltwater Barramundi from its aquaculture facility at Cone Bay in the Kimberley region of Western Australia and distributes its products across the country through refrigerated transport.

MPA's operations can produce up to 1,800 tonnes of product a year. Production at Cone Bay has ramped up significantly during 2008 and sales are expected to further strengthen MPA's position in the premium seafood market.

MPA recently signed a two-year distribution agreement with Westmore Seafoods to pack, transport and sell its product to customers around Australia. The Company is assessing the potential of exporting abroad.