Fletsof successful in first year

Press, 9 May 1981, Page 19

Fletsof successful in first year

Fletcher Sovrybflot Fishing. Ltd. (Fletsof), the Dunedin-based fishing joint venture with Soviet Union participation, achieved export sales of $7.5M in its first 12 months of operations. The company, whose jointventure licence confines it to the outer limits of New Zealand’s 200-mile exclusive economic zone, largely unfished to date by local trawlers, is 51 per cent owned by Fletcher Fishing, Ltd. and 49 per cent by the Soviet fishing organisation V/O Sovrybflot. Fletsof's chairman (Mr E. V. Henry) who announced the sales result, said that the entire catch was exported. - The company made a profit in its first 12 months of operation. “Our sales from the new enterprise represent exports New Zealand would never have had if the Soviet experience in deep and distant water fishing had not been available to us. “Based oh this knowledge we are developing the skills of the New Zealand manage-

ment and we are already putting it to use in some of our other fishing operations," he said. Mr Henry added that Fletsof management has placed considerable emphasis on acquiring knowledge on inter-national-scale fishing and has given particular attention to the marketing of the products overseas. The management comprises all New Zealanders assisted by two senior Soviet fishing experts. The Fletsot catch comprised arrow squid, the little-fished species orange roughy — also known as deep sea perch — southern blue whiting, and oreo dory. Of the total catch, a significant proportion — 9000 tonnes, according to Mr Henry — was orange roughy or deep sea perch. This was the first time that this species, which is only caught at depths of about 1000 metres, has been taken in New Zealand waters in any bulk and the company had found a responsive market for it at good prices in

Australia. Italy, France, and Greece, Mr Henry said. Along with other species it was catching, the company was adding value to its export fish and providing work for more people in processing plants at Dunedin and Port Chalmers because a substantial amount of the catch is filleted and packed locally for overseas markets, he explained.