Alliance Select eyes to sell P1-B worth of salmon this year
MANILA -- Alliance Select Foods International Inc. expects to rake in at least P1 billion from sales of its salmon subsidiaries following a capacity expansion at its unit Akaroa Salmon NZ Ltd.
In a disclosure to the stock exchange, the food company said the recent expansion is expected to have a "significant boost" to growth and profit margins.
Akaroa Salmon is pouring funds for new infrastructure meant to double production from year-ago levels, the disclosure stated.
"The extra output from this expanded capacity will enable Akaroa to further make its mark locally in New Zealand and internationally. Akaroa's salmon is considered the benchmark in the Kiwi salmon industry and the company is confident that there is a strong demand for their unique brand of Chinook salmon."
Alliance Select, while best known for its tuna canning operation, has also ventured into fishing, salmon processing and aquaculture businesses.