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Brazilian tilapia producer names new CEO

Outgoing CEO accepts board position with parent company.

Brazilian tilapia producer and processor GeneSeas has named Roberto Haag its new CEO, IntraFish has learned.

Haag replaces Breno Davis, who will work on new projects while sitting on the board of parent company Aqua Capital, which acquired Geneseas in 2015, giving the São-based tilapia firm greater financial muscle.

GeneSeas plans to increase tilapia production to 25,000 metric tons a year in 2019, in response to strong domestic demand.

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A more than BRL 40 million (€8.2 million/$9.6 million) investment under the second phase of the company's expansion strategy will now go ahead earlier than planned.

GeneSeas was planning to raise production to 20,000 metric tons by 2020 from 14,000 metric tons last year.

Brazilian tilapia production is forecast to see double-digit growth again in 2018, helped by consumer demand and industry investments.

Production rose more than 13 percent in 2017 to 357,639 metric tons, accounting for more than half of Brazil's 697,000 metric tons of farmed fish output.

In 2016, GeneSeas acquired Brazil's largest shrimp processor DellMare, a move that gave its tilapia products access to a wider retail distribution network in Brazil.

The company's shrimp business produces 3,500 metric tons a year.

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