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5 months ago
BRIEF-Tassal Group says it is investing in a range of working capital and capital investment initiatives
March 1, 2017 / 11:01 PM / 5 months ago

BRIEF-Tassal Group says it is investing in a range of working capital and capital investment initiatives

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March 2 (Reuters) - Tassal Group Ltd-

* Is investing in a range of working capital and capital investment initiatives

* Expects to invest $270 million in capital expenditure over next five years, with forecast return on this capital expected to exceed current levels

* Initiatives are expected to deliver an additional 2,500 - 3,000 hog tonnes of harvested salmon each year to fy21

* Initiatives to be funded via a fully-underwritten $80 million institutional placement and a non-underwritten share purchase for up to $20 million

* Initiatives include investment of $95 million over five years to accelerate roll out of improved net technologies

* Initiatives include investment of $53 million over 3 years to establish salmon farming operations in okehampton ,oceanic sites in storm bay Source text for Eikon: Further company coverage:

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