Home Add to Favorite Contact Submit  
           21 January, 2021

Category:  Press » Agriculture


Omega Protein Announces Support of Governor's Proposal to Cap Chesapeake Bay Menhaden Harvests

         Views: 1957
2006-08-01 03:32:10     
Omega Protein Corporation

Omega Protein Corporation (NYSE: OME), the nation's largest manufacturer of heart-healthy fish oils containing long-chain Omega-3 fatty acids, announced today that it has agreed to support Virginia Governor Timothy Kaine's proposal for a temporary five- year cap on menhaden caught for industrial purposes in the Chesapeake Bay. The Governor's proposal would cap the Company's Chesapeake Bay menhaden harvest at its most recent five-year average (2001 to 2005) of 109,020 metric tons per year. The Governor's proposal would also allow for a credit whereby any under-harvest in a particular year below the 109,020 metric ton cap would be added to increase the cap for the following year, up to a maximum of 122,740 metric tons per year.

The Company views the Governor's proposal as a substantial improvement compared to the original recommendation in August 2005 by the Atlantic States Marine Fisheries Commission ("ASMFC"), which had proposed a cap of approximately 106,000 metric tons and provided no credit for under-harvests. The Company has agreed to support Governor Kaine's proposal in an effort to move forward constructively and avoid further contention on this issue.

The Company believes that the Governor's proposal should not have any material adverse effect on its operations. The proposed cap would not apply to the Company's fishing operations in Virginia outside the Chesapeake Bay or in any federal waters (waters beyond three miles from shore). The Company's Gulf of Mexico operations would also remain unrestricted by this proposal.

"The Company is very pleased that the Governor's proposal addresses certain important practical concerns that the Company had with the original ASMFC recommendation," said Joe von Rosenberg, Omega Protein President and CEO. "The Company and the Commonwealth clearly share the mutual goal of ensuring both the sustainability of the vital health-giving menhaden resource and hundreds of jobs in the Northern Neck of Virginia."

The Company understands that the Commonwealth will now work with other coastal states to encourage ratification of this new accord by the ASMFC. The ASMFC is an inter-state compact formed by 15 Atlantic coastal states which assists in managing and conserving shared coastal resources.

About Omega Protein

Omega Protein Corporation is the nation's largest manufacturer of heart- healthy fish oils containing Omega-3 fatty acids for human consumption, as well as specialty fish meals and fish oil used as value-added ingredients in aquaculture, swine and other livestock feeds. Omega Protein makes its products from menhaden, an Omega-3 rich fish that is not utilized as seafood, but which is abundantly available along the U.S. Gulf of Mexico and Atlantic Coasts.

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. 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 possibility that the Governor's proposal described above will not be implemented or will not be ratified by the ASMFC, or (2) the possibility that the proposed cap, if implemented, would have a material adverse effect on the Company's business, financial results or results of operation.

Specialized in: Menhaden Harvests - Cap Chesapeake - Protein - Omega
Print press release      Bookmark this page
Related Press releases 
Agriculture and Nutrition: Unpacking the Pathways to Reducing Malnutrition (Popularity: ): MILWAUKEE, Wis. - December 26, 2018 -- Integrating agriculture-nutrition programs can increase the quantity and quality of nutritious foods through multiple pathways. Increased household production increases availability of home grown foods for consumption, and income for food purchases. Increased nutrition knowledge, through nutrition education, can change food preferences, and shift purchasing decisions towards nutritious foods.AAEA member, Andrew Dillon from Northwestern University along with Joanne Arsenault, and Deanna Olney, wrote the ...
SlantRange and Microsoft Partner on Scalable Crop Analytics Solutions for Agriculture (Popularity: ): SAN DIEGO - October 30, 2018 -- SlantRange, Inc., a leading provider of remote sensing and analytics systems for agriculture, announced today a new partnership with Microsoft to bring a new set of powerful and scalable aerial measurement and data solutions to the global agriculture market. The partnership will combine Microsoft’s latest Internet of Things (IoT) connectivity and cloud analytics with SlantRange’s proven edge-computing capabilities into an integrated product offering ...
Achievement in Agriculture Finalists Announced (Popularity: ): Gainesville, Fla. - August 01, 2014 -- Three finalists have been selected for Florida Farm Bureau's 2014 Achievement in Agriculture Award and will compete in October for the top statewide honor.This year's finalists are Trevor Bass (Alachua County), Doug and DeAnne Carter (Suwannee County) and Corey Lambert (Hardee County).The Achievement in Agriculture award recognizes members of Florida Farm Bureau's Young Farmers and Ranchers program who excel in their involvement in ...
Witmer's Annual Winter Machinery & Consignment Auction (Popularity: ): SALEM, Ohio, Jan. 11, 2013 -- Witmer's Inc., a leading supplier of farm equipment, sales and service as well as commercial, industrial, and agricultural construction, is proud to announce its annual Winter Machinery and Consignment Auction. The auction will include everything from tractors, farm equipment, trucks, and lawn/garden equipment as well as construction and agricultural equipment. When?Saturday, February 23, 2013 9:30 a.m. to 4:00 p.m.Where?Witmer's Inc. 39821 State Route 14 Columbiana, OH 44408(3 ...
Argus launches North American fertilizer service (Popularity: ): HOUSTON, Aug. 24, 2012 -- Global energy and commodity price reporting agency Argus has launched a new weekly fertilizer service, Argus FMB North American Fertilizer, focusing on the dynamic and evolving North American fertilizer markets. Through this service, Argus offers the most extensive fertilizer market price data of any publisher.Argus FMB North American Fertilizer's expansive coverage includes 56 assessments for fertilizer commodities, including ammonia, nitrogen, phosphate, potash, sulfur and sulfuric ...

Related Business 
The Chesapeake Bay Trust (Popularity: ): Nonprofit organization that provides financial support grants to civic and community organizations, schools and volunteer groups for Chesapeake Bay restoration and education projects in Maryland.
Chesapeake Bay Retriever Relief and Rescue (Popularity: ): List of Cheapeake Bay Retrievers for adoption. Articles on Chesapeake Bay Retriever temperament, training, and behavior problems.
TechServ, Inc. (Popularity: ): Provides marketing services, proposal support and proposal management to help clients win services contracts. Specializes in DOE and DOD. Marketing and proposal support, proposal management, and orals training for government services contract bids.
Chesapeake Bay Oyster Farms (Popularity: ): Farmers of fresh Chesapeake Bay oysters. Product offered wholesale. Contact details.
Chesapeake Bay Program (Popularity: ): The regional partnership that's been leading and directing the restoration of the Chesapeake Bay since 1983.
Chesapeake Bay Program (Popularity: ): The regional partnership that's been leading and directing the restoration of the Chesapeake Bay since 1983.
Menhaden Resource Council (Popularity: ): Trade industry group offers detailed information about the clupeid fish the Atlantic Menhaden, including biology, fishery, fishery management, history and recent news.
Wayne Gatling Guide Service (Popularity: ): Waterfowl hunts on Maryland's eastern shore and sea duck hunts on Chesapeake Bay. Guided fishing off Florida Keys as well as on Chesapeake Bay. Provides rates and contact information.
Chesapeake Traditions (Popularity: ): Chesapeake Traditions is the only site dedicated to the creative spirit of the Chesapeake Bay. We proudly offer a wide variety of items produced in this beautiful and unique region. We are committed to providing you with the highest quality in product and customer service.
Sea Kayaking in Chesapeake Bay (Popularity: ): Sea kayak information with focus on Chesapeake Bay.