Jane Morgan Management
New Zealand Coastal Seafoods Limited (ASX:NZS) ("NZCS", the "Company") is pleased to announce that the Company has now moved to the new upgraded and expanded seafood processing and production facility in Christchurch, which is five times larger than the existing facility, and is strategically located in close proximity to the Christchurch airport, and the import/export air freight market, providing logistical advantages for export into Asia.
Highlights
- NZCS has moved to the new upgraded and expanded seafood processing and production facility in Christchurch, five times larger than the existing facility.
- The facility will be used to increase production of the Company's flagship ling maw product, manufacture ready to eat products, and with a new collagen milling machine to be used to produce NZCS's powdered collagen ling maw nutraceutical product.
- The Company's new facility has the current capacity to increase dried seafood throughput by up to 100% in one full shift.
- As demand increases, additional shifts and additional machinery will be introduced thereby further improving productivity and profit margins.
- The final stages of certification are underway from the New Zealand Ministry of Primary Industries (MPI), for both export grade food products and research and development for the production of nutraceutical ingredients.
- The new facility is in line with the Company's growth strategy of increasing sales of existing products through expanded production capacity, and improving profit margins by extending the range of products.
- Coinciding with the completion of the new facility, CEO Peter Win has transitioned into the role of General Manager Business Development, with COO Andrew Peti taking the role of Interim CEO.
- The change of roles will allow NZCS to further increase sales by allowing Mr Win to focus on business development, whilst also streamlining production and operations through the application of Andrew Peti's expertise
On 1 October 2019, NZCS announced that it has signed a 6 year lease agreement on the new facility with options to extend for a further 8 years, and over the past months, NZCS has finalised the planning, construction and commissioning of equipment.
The facility will be used to increase production of the Company's flagship ling maw product, manufacture ready to eat products, and a new collagen milling machine will be used to produce NZCS's powdered collagen ling maw nutraceutical product.
The expanded and upgraded production facility is in line with the Company's growth strategy of increasing sales of existing products through expanded production capacity, and improving profit margins by extending the range of products to include ready-to-eat products such as prepackaged soups.
New Zealand Coastal Seafoods Interim CEO, Andrew Peti,
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