Huon Aquaculture wants double production capacity thanks to high energy sites

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Tasmanians expect to overcome challenges and dramatically increase production.

In a press release focused on its Annual General Meeting, Huon Aquaculture’s chairman Neil Kearney writes that it is creating a “much more resilient business”.

“We have a clear strategy for growth. We are delivering against that strategy. The business is positioned to almost double production capacity over the next 3 to 5 years,” he wrote.

“At the same time, our development of industry-leading facilities such as Whale Point – the largest on-land grow-out facility in the Southern Hemisphere – and technology, such as the fortress pens that allow safe, sustainable farming of high energy sites offshore, means we are also creating a much more resilient business,” Kearney added.

Huon Aquaculture’s EBIT down 63% in 2018 down to jellyfish swarms and warming waters. FY2020 will be the first year since 2014 that Huon will not implement significant changes to the way it operates. It spent EUR 215 million on the business over the past 5 years alone.