Cermaq Developing New US Processing Plant as Mitsubishi Cuts Salmon Earnings Outlook

Cermaq is developing a new value-added processing facility in the US, according to its parent Mitsubishi Corporation's first-half earnings presentation. The same slide says Cermaq is adding capacity and automation at its existing facility in Chile. Mitsubishi framed the processing push as a way to improve profitability and make the business more resilient to market swings. The slide gives no location, investment amount or timeline.
The plans come as Mitsubishi warned that salmon earnings will fall short of its initial expectations this fiscal...
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