Las Vegas barramundi farm to be developed13:23, Monday, 8...

Las Vegas barramundi farm to be developed
13:23, Monday, 8 October 2007

Sydney - Monday - October 8: (RWE Aust Business News) -
Barramundi farming specialist Cell Aquaculture (ASX:CAQ) has signed an
agreement with US-based project managers to establish a new aquaculture
facility in Las Vegas, Nevada.
Las Vegas is the restaurant and tourist capital of the US and a
prime market for an exotic clean water species such as barramundi.
Market research has already been conducted and resulted in
initial strategies for operations, branding, promotions, sales and
distribution.
The plan is to establish a 500-plus tonne per annum facility and
then expand in accordance with market demand. Suitable sites for the
facility are currently being identified and analysed.
Cell Aquaculture has also decided to cease its small Mississippi
aquaculture operation.
The board considers this operation is uneconomic mainly due to
its remoteness and small capacity.
The combined losses and write-off of the Mississippi investment
was $2.41 million which was reflected in the accounts for the year ended
30 June 2007.
Cell expects to re-locate and install a significant
amount of the Mississippi plant and equipment to the Nevada site.