Aussie fish industry gets ‘superb’ new lease on life

AUSTRALIA’S biggest fish and chip chain is making the biggest leap yet to compete with its rivals in a fast-growing market that is expected to drive more jobs and more profit.

Sydney-based Sysco is launching a new lease deal that will see the chain expand its seafood processing business from 1,500 staff to 2,000.

It is the biggest such move for a global fish company in recent memory and a major boost for the Australian seafood industry.

“Sysco has been around for over 20 years and this is the first step in our continued evolution and growth in Australia,” Mr Dolan said.

“This will ensure we can continue to grow our business and remain relevant in a changing seafood market.”

Syscos’ new arrangement with Australian processors is the largest in the world, with a total of 10 million tonnes of fish being processed annually.

A year ago, it signed a new deal with American giant Cargill, which was valued at more than $US100 billion ($145 billion).

It is also one of the largest lease agreements in Australia, and has seen the company raise more than US$500 million ($800 million) in its latest funding round.

“Our customers are the best in the business, and we are proud to have such a close working relationship with our Australian partners,” Mr Hinchliffe said.

The deal includes a three-year extension for its existing lease on the site, but Mr Hatter said the company was aiming for a three or four-year deal.

The move to move to a new facility will help to bring the size of the company down from around 4,000 employees in 2010 to around 2,500 now.

“We are going to continue to have a very, very strong and robust presence in Australia as well as other parts of the world,” he said.

Topics:business-economics-and-finance,business-and/or-federal-government,sustainability,business,industry,hinchliff-4750,nsw

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