Profile: Omega Protein Corp (OME.N)
18 Dec 2013
Omega Protein Corporation incorporated on January 23, 1998, is a nutritional ingredient company. The Company is a vertically integrated producer of Omega-3 fish oil and specialty fish meal products. The Company is a producer of protein-rich meal and oil derived from marine sources. The Company’s products are produced from menhaden (a herring-like fish found in commercial quantities), and include regular grade and value-added specialty fish meals, crude and refined fish oils and fish solubles. The Company produces and sells a variety of protein and oil products derived from menhaden, a species of wild herring-like fish found along the Gulf of Mexico and Atlantic coasts. It markets several grades of fish meal, as well as fish oil and fish solubles. Its fish meal products are primarily used as a protein ingredient in animal feed for swine, aquaculture and household pets. Its fish solubles are sold primarily to bait manufacturers, aquaculture feed manufacturers and for use as an organic fertilizer. The Company operates through two primary industry segments: animal nutrition and human nutrition. Effective February 27, 2013, the Company acquired Wisconsin Specialty Protein LLC.
The Company operates through four primary subsidiaries: Omega Protein, Inc. (Omega Protein), Omega Shipyard, Inc. (Omega Shipyard), Cyvex Nutrition, Inc. (Cyvex) and InCon Processing, L.L.C. Omega Protein is the principal subsidiary of the Company, which operates in the menhaden harvesting and processing business. Omega Shipyard owns and operates a drydock facility in Moss Point, Mississippi that is used to provide shoreside maintenance for Omega Protein’s fishing fleet. The Company produces OmegaPure, refined fish oil. It also produces OmegaActiv, a concentrated form of OmegaPure, which is marketed as a dietary supplement.
Fish meal, the principal product made from menhaden, is sold primarily as a high-protein feed ingredient. It is used as a feed ingredient in feed formulated for pigs and other livestock, aquaculture and household pets. It produces fish meal of several different types: Special Select, SeaLac and fair average quality (FAQ) Meal. Special Select is a fish meal that is targeted for monogastrics, including baby pigs, pets, shrimp and fish. SeaLac is a fish meal that is targeted for the ruminant industry. FAQ meal is a fish meal, guarantees a protein content of at least 60%, and is used in protein blends for catfish, pets and other animals.
The Company produces crude unrefined fish oil, refined fish oil and food grade oils. Feed grade menhaden oil is processed and refined to offer Omega-3 oil for use in pet, aquaculture and livestock feeds. The Company’s refined feed grade fish oils are sold in two basic grades under the name Virginia Prime. Virginia Prime Gold fish oil is alkali refined, bleached and then fractionated. Virginia Prime Platinum Virginia Prime Platinum fish oil is alkali refined, bleached, fractionated and then deodorized. OmegaEquis is a specialty feed additive product for the equine market that supplies omega-3 fatty acids to horses. OmegaEquis is Virginia Prime Gold that has been alkali refined, bleached, fractionated and then flavored in order to enhance palatability.
Fish solubles are a liquid protein product used as an additive in fish meal and are also marketed as an independent product to animal feed formulators and the fertilizer industry. Its soluble-based products are Neptune Fish Concentrate, OmegaGrow and OmegaGrow Plus. Neptune Fish Concentrate, an aqua grade liquid protein composed of low molecular weight, water-soluble compounds, such as free amino acids, peptides and nucleotides that are attractants for a variety of aquaculture feeds. Neptune Fish Concentrate also can be added directly to grow-out ponds as a fertilizer to help feed plankton and other natural food sources.
The Company competes with Darling International, Archer Daniels Midland and Cargill.
Omega Protein Corp
Suite 500, 2105 City West Blvd
HOUSTON TX 77042