October 3, 2008

South Australian aquaculture company Clean Seas Tuna is determined to improve its performance and expand the business.

The company's key goals include the production of up to 20,000 tonnes of farmed finfish per year, comprising of 10,000 tonnes of commercially-produced southern bluefin tuna, 7,500 tonnes of kingfish and 2,500 tonnes of wild-caught tuna.

To enhance efficiency, the company has ordered a review of every step of the business, all senior positions and the board's composition.

The company is also considering to purchase the Stehr family's private tuna business next year. 

Meanwhile, Clean Seas' tuna-breeding programme has achieved a degree of success, with initial quantities of fingerlings produced this summer. The first commercial quantities of fingerlings are expected to be produced next summer, with revenue from initial sales starting in July 2011.

Clean Seas Tuna's largest shareholders include Macquarie, GIC and the Lowy family, apart from the Stehr family with 54 percent.