Nocera extends RAS reach with Taiwan deals
Atlanta-based recirculating aquaculture system (RAS) company Nocera Inc., has acquired two Taiwanese companies in a bid to extend its footprint in the land-based aquaculture market.
The company said it recently signed variable interest entity (VIE) agreements with Xin Feng Construction Co. Ltd., (XFC) a construction firm, and Shunda Feed Co., Ltd., (SFC) an aquaculture feed firm. The agreements give Nocera 100 per cent controlling interest in both companies.
“The VIE agreements with Xin Feng Construction and Shunda Feed are important milestones for our company,” said Jeff Cheng, president and chief executive officer of Nocera, Inc., “These acquisitions provide our company with strategic integration to better develop our land-based recirculating aquaculture systems and as an aquaculture food supplier in the Taiwanese market.”
The deal places Nocera in a better position to support the construction activities of its clients, the development of Nocera’s fish farms and give the company a shot at becoming “a key supplier to other fish farm operators,” according to a press release.
Nocera intends to provide technical consulting and related services to SFC and XFC.
The company is responsible for the management of SFC and XFC, and has the exclusive right to exercise all voting rights of both acquisitions, under the VIE terms.