AgriMarine’s China raised fresh Chinook salmon enters retail stores in Beijing (Photo: AgriMarine)
(CANADA, 8/30/2012)
AgriMarine Holdings Inc. (Public, TSXV:FSH) has announced that it has entered into an agreement with the Ito-Yokado
grocery retail chain for the supply of locally produced fresh Chinook
salmon from AgriMarine’s closed containment freshwater farm in Benxi,
China.
Previous
harvests of Steelhead trout were sold through distributors to 5-star
hotels and restaurants however the agreement with Ito-Yokado marks the
Company’s debut into the retail market.
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| Tanks at AgriMarine’s Benxi farm |
On
August 28th, AgriMarine’s salmon will be available initially at Ya Yun
Cun Beijing Huatang Ito-Yokado with in-store promotions and marketing
programs developed in cooperation with AgriMarine’s Beijing sales staff.
These programs will involve the branding of the product as Chinese produced in pristine waters of the northeast regions.
 |
| Chinook reared in AgriMarine's floating closed containment farm in Benxi, China |
The Company plans to ramp up deliveries to supply all 15 Ito-Yokado retail stores in the near future.
AgriMarine is the only company that raises salmon in China with floating closed containment technology.
 |
| Richard Buchanan |
Operational
advantages inherent with the AgriMarine System, including the ability
to moderate seasonal temperature extremes, allow for the production of
high quality salmon from reservoirs that can be sold fresh, within 24
hours of harvest.
AgriMarine’s CEO Richard Buchanan
said, “Ito-Yokado sees the opportunity to offer a salmon product with
improved freshness over imports, to their customers in Beijing and they
are launching our product in one of their largest stores in a high
income community”.
He
added, “Securing this supply contract is a significant step for the
Company. It provides protection against price fluctuations, brings
significant sales and cash flow, and demonstrates our ability to deliver
quality Pacific salmon at competitive prices.”
About Ito-Yokado
Ito-Yokado is
a Japanese retailer, part of Seven & I Holdings Co. with 174
Ito-Yokado stores operating in Japan. The group has quickly expanded in
China since 1997, where the company now operates 10 stores in Beijing, 5
stores in Chengdu, Seven-Eleven, Seven & I Restaurants, and plans
for further expansion throughout China.
 |
| One of Japan's leading retailers, Ito-Yokado operates about 175 superstores throughout Japan, Ito-Yokado is now a subsidiary and the core operating company of Japan's largest retail conglomerate Seven & i Holdings's domestic superstore business |
About AgriMarine Holdings Inc.
Canadian-based AgriMarine Holdings Inc. is
an aquaculture technology company engaged in the development,
commercialization, sales and licensing of proprietary floating
solid-wall closed containment tank systems for salmon and finfish
farming.
 |
| AgriMarine's salmon fillet |
The
Company’s clean technology is demonstrating economic and sustainability
advantages in its own farms in Canada and China, as well as commercial
scalability for hatchery and full grow-out applications.
The
AgriMarine System creates an optimal fish rearing environment,
addresses sustainability issues in finfish aquaculture and can be
applied worldwide in a variety of water bodies and climates.