Andrew Peti CEO New Zealand Coastal Seafoods (ASX:NZS), is pleased to announce that we have successfully extended our supply contract with Aquadev for another 12 months.
Our commitment to providing high-quality dried ling maw products has been well-received by Aquadev, a reputable meat and seafood distributor in Victoria, Austrslia. As a result, we have increased the previous contract value of NZD $800,000 to up to $NZD1.7M of dried ling maw, in order to meet strong demand through their distribution channels.
We are delighted that this renewed contract allows us to broaden our distribution scope to New Zealand, providing a significant growth opportunity for NZCS in terms of sales. Our first shipment, valued at NZD$0.5M, is scheduled to be delivered in June 2023.
At NZCS, we remain committed to the highest standards of quality, and strive to maintain strong relationships with our partners and clients. We believe that this contract renewal is a clear testament to our company's values and to the dedication of our team to delivering premium products.