27 Oct 2021

Tattarang calls on JBS S.A to make clear commitments to shareholders, announces multi-million-dollar land-based aquaculture investment

Tattarang Chair, Dr Andrew Forrest AO, has called on the global parent of JBS Australia – JBS S.A – to declare its unequivocal commitment to animal welfare and environmental sustainability.

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Tattarang Chair, Dr Andrew Forrest AO, has called on the global parent of JBS Australia – JBS S.A – to declare its unequivocal commitment to animal welfare and environmental sustainability.

“Until JBS S.A declares its unequivocal commitment to adopt the same animal welfare – including the principle of No Pain, No Fear (NPNF) – and environmental sustainability standards as JBS Australia across their global operations, Huon shareholders have no certainty for the future of the company under JBS Group’s control,” Dr Forrest said.

Dr Forrest confirmed that until JBS S.A made those commitments, it is Tattarang’s current intention to vote against both Schemes of Arrangement.

“My message to these massive protein producers remains clear: your animals deserve NPNF in their life cycle, and your customers expect you to change the management of your business to accommodate this. Only a clear commitment by JBS S.A in respect to its global operations would give Tattarang sufficient confidence to reconsider its position.”

Dr Forrest said Tattarang has also committed to developing a new land-based finfish production facility to give consumers a sustainable alternative to current marine farming practices.

Project scoping and feasibility studies have already commenced, paving the way for future site selection and capital works to occur, which would underwrite an investment commitment anticipated to be more than $100 million.

Dr Forrest said the new land-based production facility would give consumers true market choice to support products that are sustainably produced without impacting our environments.

“I didn’t invest in Huon to create a rival takeover proposition. I invested in Huon because I believed they wanted to be leaders in truly sustainable salmon farming. But the industry change I want to achieve goes beyond just one company, in one jurisdiction.

“We invested to bring the true impacts of nearshore farming to policy makers’ attention, to bring the credentials of certification arrangements into review, and for the real standards of animal welfare practices to be highlighted.

“Through our investments we have put an immovable spotlight on the true, long-term sustainability of the Tasmanian salmon industry and the NPNF management of animal to protein by multi-nationals. It is now at the top of the agenda for the Australian community and government.”

Tattarang will continue to consider its position in relation to the JBS takeover bid.

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