Welcome to FIS   Sponsored By
United States
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Umami intends to become the leader in the bluefin tuna industry by acquisition and internal growth. (Photo: Umami/AtlantisGroup/FIS)

Umami receives large contract for bluefin

Click on the flag for more information about Japan JAPAN
Thursday, November 04, 2010, 22:00 (GMT + 9)

The Board of Directors of Umami Sustainable Seafood today announced that Baja Aqua Farms of Mexico, of which Umami owns 33 per cent, has executed sales agreements with Japanese buyers including a wholly owned subsidiary of Atlantis Group, the 62 per cent shareholder of Umami, for a total of USD 20 million of bluefin tuna, with delivery to commence in November and to be completed before the end of the January 2011.

Umami recently announced that it exercised an option to acquire the remaining equity interests in Baja, which subject to obtaining sufficient financing, is expected to close on or before 30 November 2010.

In announcing the contract signings, Oli Steindorsson, the CEO of Umami stated: "We are pleased to see that our decision to invest in Baja is already being validated by these sales agreements, which have been negotiated at price levels which reflect the high level of demand among Japanese clients for the type of premium quality bluefin produced by Baja, and are at the upper end of our forecast range."

Mr. Steindorsson continued: "Harvesting of the fish under contract has already commenced and will be completed by the end of January. The cash proceeds from the sales will be used both to supplement Baja's working capital as well as build additional capacity in Baja to ensure consolidation of its position as the preeminent bluefin operation in the Americas."

He added thet they are also in the process of finalizing sales program for their 100 per cent owned subsidiary Kali Tuna, which they expect to complete within a few months.

In conclusion, Steindorsson said that "Baja and Kali Tuna currently have combined inventory of over 5,500 metric tonnes of bluefin. Although we do not expect them to sell but part of this inventory this year, if they did so, it would represent a total sales value of approximately USD 120 million at current prices. This represents an excellent base to deliver good returns on our investment as we move further into our first year as a public company."

Umami also owns and operates Kali Tuna which is an established Croatian-based aquaculture operation raising Northern bluefin tuna in the Croatian part of the Adriatic Sea.

The company intends to become the leader in the Northern bluefin tuna industry by acquisition and internal growth. They claim that the growth of the company will be founded on the sustainable management of resources and economically sound practices, seeking opportunities resulting from market consolidation and scientific progress in the industry.

editorial@fis.com
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
United States
Jul 4, 04:20 (GMT + 9):
IN BRIEF - Commission denies Barham authority to open white-shrimp season
India
Jul 4, 04:20 (GMT + 9):
IN BRIEF - Black tiger shrimp to become the new vannamei
United States
Jul 4, 04:20 (GMT + 9):
IN BRIEF - Louisiana to receive several billion dollars as part of massive BP oil spill settlement with Gulf states
Thailand
Jul 4, 04:20 (GMT + 9):
IN BRIEF - No big impact from moored fishing boats
United States
Jul 4, 04:20 (GMT + 9):
IN BRIEF - La. shrimpers, environmentalists applaud new law
India
Jul 3, 23:50 (GMT + 9):
Seafood exports reach historic record
Mexico
Jul 3, 23:40 (GMT + 9):
Fisheries and aquaculture byproducts become an alternative to feed snappers
Spain
Jul 3, 23:10 (GMT + 9):
Red tide negatively affects mussel supply in Galicia
European Union
Jul 3, 22:50 (GMT + 9):
EU increases minimum size limit for northern sea bass
Chile
Jul 3, 22:20 (GMT + 9):
Blumar does not forecast significant financial impact due to ISA virus
Norway
Jul 3, 21:20 (GMT + 9):
Salmon price status at week 27
European Union
Jul 3, 04:00 (GMT + 9):
Supplementing salmon populations may worsen their decline
United States
Jul 3, 03:30 (GMT + 9):
IN BRIEF - Seafood exporters seek aquaculture master plan
United States
Jul 3, 03:30 (GMT + 9):
IN BRIEF - Marine salmon fishing expands to many areas of Puget Sound and Strait
Ecuador
Jul 3, 03:30 (GMT + 9):
IATTC rejects fishing quota increase to three countries



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Supplementing salmon populations may worsen their decline
European Union Supplementing declining salmon populations with fish from other genetically distinct populations may not be the best method of conservation, according to a recent European study.
Seafood exports reach historic record
India Seafood product exports during the financial year 2014-2015 reached an all-time high of USD 5,511 million, boosted by favourable international market conditions.
Tesco's sales fall while Aldi and Lidl consolidate
United Kingdom Britain's biggest supermarket chain Tesco reported a fall in sales amounting to 1.3 per cent in its first quarter, lower than expected, whereas Morrisons, Aldi and Lidl achieved growth in their sales.
Fishing industry maintains stable growth
Russia Fed. The Russian fishing industry has remained stable in the last three years, with catches amounting to around 4.3 million tonnes of fish annually, according to the Russian State Statistics Service.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Pescanova, S.A. - Group Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Limited
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel ehf - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
Food Project (Siam) Co., Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. -Headquarter-
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  -Holding Headquarter-
Greenpeace International - The Netherlands
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
Ocean Trawlers Group - Ocean Trawlers HK Ltd.
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2015 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER