smh cell aquaculture buys barramundi project

Australian-owned seafood supplier Cell Aquaculture Ltd has taken full ownership of a Dutch barramundi facility after agreeing to buy out its former partner.

Cell Aquaculture negotiated to purchase a further 50 per cent stake in the Cell Aquaculture Netherlands BV from partner Harry Rutgers, as part of a push into the European market.

The Tolbert barramundi facility in Holland is the company's main asset, but it also has facilities in Western Australia, Malaysia and the United States.

Cell Aquaculture executive chairman Paul Hopper said there was high demand from the European market and business looked promising.

"The fully operational Dutch facility now gives us an excellent marketing tool to invite key European distributors to view our unique and sustainable production process first hand," he said.

"We are currently assessing a number of further European opportunities. Market penetration and further production expansion continue as core management priorities