AUSTRALIA – JBS, the Brazilian food processing powerhouse, is significantly expanding its footprint in the seafood sector with a US$73.6M investment in Huon Aquaculture.
The company has committed A$110 million (US$73.6M) to enhance Huon’s land-based salmon farming operations at the Whale Point facility in Tasmania.
This investment aims to construct a state-of-the-art salmon hatchery designed to rear up to seven million fish.
The ambitious project, scheduled to commence next year, is projected to be completed by 2027.
It represents JBS’s strategic push into the seafood market following its acquisition of Huon in 2021.
As Australia’s second-largest salmon farming enterprise, Huon has been a pivotal player in the industry.
The Whale Point hatchery, which first opened its doors in 2019, will see significant upgrades under this new investment, enabling the company to extend the salmon’s time in tanks and enhance their growth before they transition to sea-based pens.
Henrique Batista, Huon’s CEO, announced that the development will create 150 new jobs during the construction phase, adding to the 1,000-strong workforce currently employed by the company in Australia.
This project, first hinted at in May, is expected to provide additional permanent roles alongside the construction positions.
Since its acquisition, JBS has supported Huon’s growth with over A$350 million (US$234.3M) in investments focused on infrastructure and sustainability in the salmon farming process.
This strategic move aligns with JBS’s broader goals for sustainable expansion in the seafood sector.
In its recent fiscal report, JBS recorded a slight revenue increase of 0.4%, totaling US$73 billion.
However, adjusted EBITDA saw a significant decline of 49%, settling at US$3.5 billion, and the company reported a US$199 million loss compared to a $3 billion profit the previous year.
For its Australian division, which also includes beef and pork processing, revenue fell by 1.8% to US$6.2 billion, although adjusted EBITDA rose by 2.4% to US$454.7 million.
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