Tassal was one of the first companies founded to develop
salmon farming and its first harvest in 1986 was 53
tonnes of Atlantic salmon. By 1997 it was producing
4,000 tonnes a year.
The company’s collapse
has come as a surprise to many. In 1999-2000 it reported
a profit of AUD 3.7 million. However, by the end of
2001, it was obvious that the company was in trouble.
Factors other than the glut which have been blamed were
the terrorist attacks of 11 September and the
unseasonably high water temperatures.
Although Tassal is the
largest, it is only one of 14 companies in Tasmania
producing farmed salmon and trout. Other companies
expect that the collapse will force them into industry
rationalisation. The farmers’ association chairman, Owen
Carrington Smith, told Tasmania’s Mercury
newspaper that while the decision to place Tassal into
receivership was disappointing he felt it could result
in a repeat of the overseas trend of consolidating major
salmon businesses into larger entities.
He continued: “The most
recent is a merger of three Norwegian aquaculture
businesses to form
Fjord
Cermaq which will
control 40 per cent of global salmon feed and 12 per
cent of the global farmed salmon market.”
The collapse of Tassal
has embarrassed the state government, currently fighting
a state election. It has held 1.5 million shares in
Tassal since 1987.
A receiver manager, Mark
Mentha of Korda Mentha and Colleagues, has been
appointed. He said it was business as usual for Tassal.
Local, interstate and international customers are
promised that there will be no change in price, product
or availability of salmon. Jobs for most workers are
being safeguarded.
Mr Carrington believes
that the overall improved environmental conditions
during the last summer, and improving international
prices, will help the local industry. “The fish are
generally bigger this year and therefore should achieve
better prices in international markets.”
By Jenny Haworth
FIS.com
|
