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Farmed abalone specimens. (Photo: Stock File)
Craig Mostyn Group purchases high-tech abalone farm
(AUSTRALIA, 7/2/2014)
The country’s largest abalone farm has been purchased by leading agribusiness Craig Mostyn Group (CMG) and intends to double production as part of a AUD 20 million (USD 18.8 million) investment aimed at premium seafood markets in Asia.
This high-tech farm, Jade Tiger Abalone (JTA), is located on the coast 36 km east of Geelong, produces about 200,000 tonnes of abalone a year and is home to about seven million growing abalone, The West Australian informed.
The purchase was a strategic decision for CMG given the company's significant experience and expertise in producing and exporting premium quality seafood and pork products, such as Linley Valley Pork, to Singapore, Hong Kong and China.
"Effectively, the business was a high-tech start-up that recently became commercially viable. It was the perfect time for us to step in and bring our expertise in marketing into Asia,” pointed out CMG chief executive David Lock.
And he added: "We believe aquaculture offers great growth potential in Australia, specifically in the production of high-quality and high-value seafood."
Lock explained they have a strong marketing team selling seafood products into China, so adding more products into “the basket of things they can sell makes sense.''
JTA operates on a ‘‘closed life cycle’’ model, meaning it grows all its abalone from brood stock on site so there is no risk of contamination, Farm Weekly informed.
CMG operates out of WA and Tasmania and produces pork, seafood, protein meal, tallow, cooking oils and fruit products, both domestically and overseas.
CMG, which exports more than 500 tonnes of live Australian lobster, king crab, scallops and abalone a year, expanded its investment in the Tasmanian lobster industry late last year with the AUD 5 million (USD 4.7 million) purchase of businesses operating in Bicheno and Dover.
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www.seafood.media
Information of the company:
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Address:
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Level 1, 6 Short Street,
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City:
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Fremantle,
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State/ZIP:
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(WA, 6160)
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Country:
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Australia
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Phone:
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+61 7 3902 7600
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Fax:
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+61 7 3902 7620
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E-Mail:
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[email protected]
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More about: 
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