Business strengthens presence in major salmon producing country
A joint venture dissolution agreement will see Sheffield-based listed biotech firm Benchmark Holdings receive US$8.75m (£6.8m) from a company in Chile.
Benchmark, which specialises in aquaculture health, nutrition and genetics, will receive the money from Empresas AquaChile SA, which represents the second and final payment under the joint venture dissolution agreement.
As part of this agreement, the business has completed the transfer of ownership of the Ensenada facility, which gives Benchmark control of a salmon breeding operation previously belonging to the joint venture. The company has received the IP rights, genetics stock and biomass in the joint venture.
The Ensenada facility is a highly bio-secure hatchery situated in the Los Lagos region in Chile. It is being adapted to be suitable for maturation of broodstock, spawning and fertilisation of eggs, and it is expected the first eggs from the new facility will be available in the first half of 2021.
A Benchmark spokesman said: “Chile is the world’s second largest salmon producing country and is an important market in Benchmark’s long-term strategy.
“We remain focused on achieving full scale production at this bio-secure, land based facility.”
