date:Jul 01, 2014
The purchase is said to be part of a $20m investment aimed at premium seafood markets in Asia and marks CMGs first investment in aquaculture.
CMG successfully outbid a number of Chinese investors for the abalone farm which now sells over 95 percent of its product live to Japan, Hong Kong and China.
CMGs CEO David Lock said that a sophisticated selective breeding program developed in conjunction with the CSIRO has seen productivity increase by 30 percent, and that the company plans to double it