June 30, 2008

 

New Zealand King Salmon seeks new investor for expansion
 
 

New Zealand King Salmon, owned by Malaysian company Tiong Group, are looking for a new investor to help fund expansion.

 

NZ King Salmon wants to expand its processing facilities and to develop more farms to increase production and private equity firms are expected to take interest in this prospect, according to King Salmon chief executive Paul Steere.

 

The company has a turnover of NZ$75 million (US$57.2 million) and harvests about 6,000 tonnes of fish per year.

 

The domestic market accounts for half of its production, with Japan and Australia as its key export markets. Its products include fresh, frozen, smoked, marinated and sashimi salmon.

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