Omega Protein Announces Atlantic States Marine Fisheries Commission Votes to Increase Menhaden Harvest Quota
HOUSTON, May 6, 2015 /PRNewswire/ -- Omega Protein Corporation (NYSE: OME), a nutritional product company and a leading integrated provider of specialty oils, essential fatty acids and specialty protein products, announced today that the Atlantic States Marine Fisheries Commission (ASMFC) has increased the harvest quota for 2015 and 2016 for the Atlantic Coast menhaden bait and reduction fisheries from 170,800 metric tons to 187,880 metric tons, a 10% increase from the currently approved level.
The quota increase results largely from the positive Atlantic Menhaden stock assessment released in January 2015, which indicated that the Atlantic menhaden population was not overfished, nor was overfishing occurring. The new harvest quota will take effect for the 2015 and 2016 Atlantic menhaden fishing seasons.
"Omega Protein has been fishing these Atlantic waters for a century and no one is more interested than us in the sustainability of the resource. We are pleased that the ASMFC is basing its decision on the rigorous scientific work conducted in the 2015 stock assessment," said Bret D. Scholtes, Chief Executive Officer of Omega Protein. "The most recent assessment of Atlantic menhaden shows the stock is robust. We believe these increases are appropriate and reflect the vitality of the menhaden population."
About Omega Protein
Omega Protein Corporation (NYSE:OME) is a century old nutritional product company that develops, produces and delivers healthy products throughout the world to improve the nutritional integrity of foods, dietary supplements and animal feeds. Omega Protein's mission is to help people lead healthier lives with better nutrition through sustainably sourced ingredients such as highly-refined specialty oils, essential fatty acids, specialty proteins products and nutraceuticals.
The Company operates eight manufacturing facilities located in the United States, Canada and Europe. The Company also uses over 30 vessels to harvest menhaden, a fish abundantly found off of the coasts of the Atlantic Ocean and Gulf of Mexico. Its website is www.omegaprotein.com.
Forward Looking Statements
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: The statements contained in this press release that are not historical facts are forward-looking statements that involve a number of risks and uncertainties. Forward-looking information may be based on projections, predictions and estimates. Some statements in this press release may be forward-looking and use words like "may," "may not," "believes," "do not believe," "expects," "do not expect," "anticipates," "do not anticipate," "see," "do not see," or other similar expressions. The actual results of future events described in any of these forward-looking statements could differ materially from those stated in the forward-looking statements. Important factors that could cause actual results to be materially different from those forward-looking statements include, among others: (1) the Company's ability to meet its raw material requirements through its annual menhaden harvest, which is subject to fluctuations due to natural conditions over which the Company has no control, such as varying fish population, fish oil yields, adverse weather conditions, natural and other disasters and disease; (2) the impact of laws and regulations that may be enacted that may restrict the sale of the Company's products or the Company's operations, including the ASMFC restrictions on the Company's menhaden fishing operations referred to above, (3) the final laws or regulations implementing the ASMFC guidelines that may be adopted by the ASMFC member states which may differ materially from the ASMFC guidelines, (4) the timetable for implementation of these ASMFC guidelines by the ASMFC member states, (5) the allocation between the bait and reduction industries, and (6) the impact of worldwide supply and demand relationships on prices for the Company's products. Other factors are described in further detail in the Company's filings with the Securities and Exchange Commission, including its reports on Form 10-K, Form 10-Q and Form 8-K.
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SOURCE Omega Protein Corporation
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