CFE has acquired a 7.5% stake in Rietgans Usapho (Pty) Ltd. This company owns the MFV “Rietgans II” (a vessel that is part of the cluster with Gansbaai Marine (Pty) Ltd.). As part of the same joint venture/economic unit CFE has also invested a further 3% equity stake in Gansbaai Marine (Pty) Ltd’s processing factory. Small Pelagic fish are canned and processed into fishmeal and fish oil. Mr. Lucas is a director of Rietgans Usapho (Pty) Ltd.
CFE believes that there are many new opportunities that could be realized in this venture and has been asked by the joint venture to manage the future marketing of Gansbaai Marine factory, to grow the business beyond its current capacity. This position would be dependent on CFE being successful in being allocated and viable quota.
Don Lucas is a director on the Board of Gansbaai Marine (Pty) Ltd.