The joint venture will broaden the group's business infrastructure related to the manufacturing and export of processed fishery products, particularly shrimp, right from breed selection through farming, processing and distribution channels in an integrated manner, said TFM and HHT president Rittirong Boonmechote.

He said there was a high market demand for shrimp products all over the world at the moment.

Although the business has positive growth potential, food-safety measures and product standards have also become more rigid than before. Quality requirements for shrimp exports mandate a system that can trace back any purchased finished product from hatchery, feed mill, exporter and importer to consumer.

"Because of this, we see a high degree of importance for development technology for high-quality shrimp breeds," Rittirong said. "This can be serve as the foundation of our group's continued manufacturing lines. We place a lot of weight on the manufacturing process, in order to ensure products of the highest quality and safety. This will be done correctly by using quality raw materials."

Due to these factors, the company decided to expand its investment into its new HHT subsidiary.

HHT's annual production capacity will be 3.6 billion post-larvae and nauplii, which can be increased to 5 billion by June to meet growing demand among domestic shrimp farmers.

Rittirong added that the management team of HHT was led by Dr James Allen Wyban from Hawaii, a specialist in high-quality shrimp-breed development. Dr Wyban will serve as HHT managing director and work closely with top executives of TFM and TUF.

HHT plant and research facilities, now ready to function, are located on a 96-rai plot of land in Phang Nga province.