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Maruha buys Malaysia`s shrimp producer

January 28, 2008

Maruha announced Monday that it will purchase Malaysia`s shrimp producer, Agrobest SDN. BHD.

Agrobest, an integrated shrimp producer from baby shrimp to finished frozen products, based in Pahang Darul Makmur, has 1,300 hectares and 459 ponds and its total production in 2006 was 2,600 tons.

The company says it plans to make additional capital investment after purchase is completed and its production will be increased to 5,000 tons in `08 and 7,500 ton in `09.

Maruha, who sells various kinds of natural and farmed shrimp mainly to domestic market, said that acquisition of the shrimp firm will enable them to meet market demand that is growing increasingly diverse.

The acquisition of Agrobest, who has accumulated shrimp farming know-how, is a part of Maruha Nichiro`s global seafood business growth strategy. This will allow us access to secure more raw materials and we will be able to build consolidated operating base of combined (natural and farmed) shrimp for the domestic market and future sales expansion overseas, said the company.

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