Lonrho Signs US Fish Supply Pact With Wal-Mart For 500 Stores
July 25 2011 - 3:31AM
Dow Jones News
Africa-focused investment firm Lonrho PLC (LONR.LN) said Monday
that its Oceanfresh seafood division has signed a deal with
Wal-Mart Stores Inc. (WMT) to supply 500 of its U.S. stores with
Hake fish fillets from October.
The Oceanfresh fillets come from wild, sustainably sourced,
white Hake, fished in the deep waters in the Benguela current off
the coast of southern Africa. Hake is a new line for Wal-Mart,
Lonhro said.
Oceanfresh is among the first South African companies to supply
seafood to Wal-Mart's U.S. operations. As a result of this new
partnership, Oceanfresh has expanded its production capabilities in
South Africa and this contract will stimulate over one hundred new
direct jobs and hundreds of new indirect jobs to meet the new
Wal-Mart orders, it said.
Lonrho shares closed Friday at 17.75 pence.
-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269;
iain.packham@dowjones.com
Lonrho (LSE:LONR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Lonrho (LSE:LONR)
Historical Stock Chart
From Jul 2023 to Jul 2024