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AgriMarine Holdings begins rearing salmon in China

Last updated: 15:56 16 Dec 2010 EST, First published: 16:56 16 Dec 2010 EST

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Sustainable fish producer AgriMarine Holdings (TSX-V:FSH)(FSX:A2G) said Thursday that the third tank at its fish rearing facility in Benxi, China has been stocked with the first wave of Pacific Chinook salmon fingerlings, marking the first time this type of salmon will be grown in closed containment within Chinese borders.

Salmon is not currently produced by China's commercial aquaculture or capture fisheries, and therefore Agrimarine said it expects its salmon will compete "favourably" with European and Chilean imports of these types of products.

In addition to the 300,000 Chinook fingerlings that are being prepared for stocking, the newly installed hatchery system will accommodate a wave of 500,000 Canadian-sourced Chinook ova, which has just arrived, as well as the upcoming delivery of 400,000 Coho ova, said the company.

"We are pursuing high value and niche market product opportunities with our new focus on Chinook and Coho salmon", said  CEO Richard Buchanan.

"The new ova represents 4,000 metric tonnes of product once the salmon are fully grown a year from now."

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