Ridley Corp trials new animal feed ingredient | Finance News Network

Ridley Corp trials new animal feed ingredient

Company News

by Rachael Jones

Animal feed company Ridley Corporation (ASX:RIC) has appointed Investec to explore options to accelerate the growth of NovacqTM.

NovacqTM is a feed ingredient which in trials has demonstrated a significant uplift in prawn biomass when added to prawn feed.

The increase in biomass is derived from a combination of higher survival rates, accelerated prawn growth and general well-being of the prawn.

Significant progress at Ridley’s current production sites, namely Yamba in New South Wales, Australia and in Thailand.

Investec will assist the company to explore its options to accelerate the growth and maximise the value of NovacqTM for the benefit of Ridley shareholders.

Shares in Ridley Corporation (ASX:RIC) are trading 0.72 per cent higher at $1.40. 
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.