Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


SeaDragon announces another major Squalene sales contract

SeaDragon announces another major Squalene sales contract

Australasia’s largest refiner and blender of fish oils, SeaDragon (NZX:SEA), has announced that it has signed a second large squalene sales agreement that will underpin its financial performance for the current financial year and well into 2016.

Following on from its March announcement of a major new raw material supply contract for its existing plant, and its May announcement regarding the first significant large sales contract, SeaDragon has signed a second major sales contract to take the refined squalene to customers throughout Australasia.

This second contract covers finished product using a significant amount of the raw material obtained from the supply agreement. The names of the party and the terms of the contract are confidential.

SeaDragon Chief Executive Ross Keeley said: “This contract represents another significant win for SeaDragon and vindicates our decision to take bold steps to secure raw material for our squalene processing factory.”

“The combined contracts have a gross sales value in excess of US$6m for the 12 months commencing October 1st 2014. Given that these sales contracts do not utilize all of the raw material contracted to be supplied to SeaDragon, considerable upside exists in terms of both volume and sales value for the balance of the finished product that will be produced.”

“We are now very well positioned for the current financial year and beyond and are looking forward to 2015 when the completion of our new oil refinery plant in Nelson will allow a major expansion in our range of Omega-3 fish oil products.”

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Empty: Fonterra's 2017 Opening Forecast Below Expectations

Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

ALSO:

Pest Control: Mouse Blitz Team Leaves For Antipodes

The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Gongs Got: Canon Media Awards & NZ Radio Awards Happen

Radio NZ: RNZ website The Wireless, which is co-funded by NZ On Air, was named best website, while Toby Manhire and Toby Morris won the best opinion general writing section for their weekly column on rnz.co.nz and Tess McClure won the best junior feature writer section. More>>

ALSO:

Pre-Budget: Debt Focus Risks Losing Opportunity To Stoke Economy

The Treasury is likely to upgrade its forecasts for economic growth in Budget 2016 next week but Finance Minister Bill English has already signalled that more of his focus is on debt repayment than on fiscal stimulus or tax cuts... More>>

ALSO:

Fulton Hogan's Heroes: Managing Director Nick Miller Resigns

Fulton Hogan managing director Nick Miller will leave the privately owned construction company after seven years in charge. The Dunedin-based company has kicked off a search for a replacement, and Miller will stay on at the helm until March next year, or until a successor has been appointed and a transition period completed. More>>

ALSO:

Gordon Campbell: On Electricity, Executions, And Bob Dylan

The Electricity Authority has unveiled the final version of its pricing plan for electricity transmission. This will change the way transmission prices (which comprise about 10% of the average power bill) are computed, and will add hundreds of dollars a year to power bills for many ordinary consumers. More>>

ALSO:

Half Empty: Fonterra NZ, Australia Milk Collection Drops In Season

Fonterra Cooperative Group says milk collection is down in New Zealand and Australia, its two largest markets, in the first 11 months of the season during a period of weak dairy prices. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news