July 25, 2011


AgriMarine harvests first crop of salmon from China farm



AgriMarine Holdings Inc. has begun its harvest of the company's first crop of Chinook salmon ever reared in solid-wall closed containment in the People's Republic of China.


The farm, situated in the Benxi region of the PRC on the Guanmenshan Reservoir, rears Rainbow trout and Chinook salmon to a desired market size in approximately 14-16 months.


The harvest will continue through the summer and fall, and the fish will be sold through distributors to hotels and restaurants.


AgriMarine previously announced its expansion at the Benxi farm to four 24-metre tanks, and two additional tanks are being fabricated and scheduled for delivery later this summer.


AgriMarine plans to deliver freshly harvested fish "next day" to major Chinese markets, without being subject to import taxes or international air freight charges.


At present, imported fresh salmon takes up to four days to arrive in Chinese markets after being flown in from Europe or the Americas, and salmon imported from Norway since December 2010 has been subject to additional inspections, resulting in quarantines of up to 14 days.

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