New Zealand Coastal Seafoods Limited (AU:NZS) has released an update.
New Zealand Coastal Seafoods Limited (ASX: NZS) has successfully restructured its New Zealand subsidiary, leading to an expected annual cost savings of NZD $600,000, while also considering the divestment of the struggling unit. The company’s Australian operations, Nine Ocean Fishery, has relocated to a new state-of-the-art facility in Portsmith, QLD, in partnership with Australian Northern Seafood, amidst challenges posed by the Chinese importation ban on Australian lobster. NZS specializes in premium seafood and nutraceutical marine ingredients, with a focus on responsible sourcing and sustainable practices.
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