Top 100 CEO Interviews
Issue No. 43 - October/November 2008
Bight future for Abalone
Aquaculture firm, Australian Bight Abalone is transforming its structure as serious production ramps up.
With first harvests taking place in January from its leases near Elliston on Eyre Peninsula, ABA has harvested about 100 tonnes of greenlip abalone to meet demand ahead of Chinese New Year celebrations in China and Taiwan and the recent Olympic Games in Beijing.
The Australian Bight Abalone Project 2008 is a third generation Managed Investment Scheme.
“Due to the significant growth of the company and the funds management side of the business we opened an office in Adelaide, which has alleviated considerable workload from our office at Elliston on the Eyre Peninsula,” Chief Executive Andrew Ferguson says.
“ABA has doubled its funds under management and full-time staff in the past year.
“ABA recently finalised a five year contract to export up to 300 tonnes of farmed greenlip abalone a year to the United States.
“The deal is worth more than $100 million over the first five years, with the first shipment expected to leave SA in 2009.”
Key appointments are critical as the company grows and Andrew says they have boosted company morale.
“The appointment of Bill Bascomb as our new Operations Manager and Sam Wigg as our new CFO have added considerable value, skill, enthusiasm and experience to our senior management team,” he says.
“We also appointed three new independent directors to our board this year - T...
