Australis Aquaculture Limited (AAQ) announced that US...

Australis Aquaculture Limited (AAQ) announced that US supermarket retailer Safeway would begin offering Australis Barramundi at all 1740 of its stores this week. The company said the deal was an important step in the company’s drive to achieve profitability in FY09.

Managing director Josh Goldman said the agreement with Safeway was a major step forward for Australis in its drive into the American market.

"Consumers are increasingly recognising barramundi as a mainstream seafood choice," Mr Goldman said.

"Together, these developments are making Australis a trusted brand and a ‘best choice’ for delicious, safe, healthy and sustainable seafood for US consumers," he said.

Mr Goldman said that the placement on Safeway shelves was on the back of the supply creation initiatives began last year that were now yielding significant results.

Chairman Anthony Mitten previously said that the company had expanded its operations in the US and as a result by the end of the fiscal year, output and sales were anticipated to reach the 1000 tonnes per annum capacity level.

He said this would allow the company to fully cover its US production, selling and overhead costs.

Mr Goldman said that the ability to service new customers like Safeway was an important component of meeting the company’s FY09 sales targets.

The Safeway distribution agreement follows the news Australis Barramundi was selected by The Darden Group’s for its Fresh Fish Menu at approximately 700 Red Lobster restaurants.

At 1110 AEST, shares in Australis were up 2c, or almost 8%, to 27.5c.