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Sea Horse quits frozen seafood business

Sea Horse will exit the frozen seafood business and turn itself into a tapioca-based ethanol producer and distributor to capitalize on the trend towards cleaner energy, The Nation reports. CEO Siritaj Rojanapruk said that the Thai company expects revenues of 3 to 4 billion baht (US$89.4 to 119.2 million) in the first year of operation in 2011, compared to about 500 million baht (US$14.9 million) a year from producing and exporting frozen seafood. According to its filing with the Stock Exchange of Thailand, its first ethanol plant is expected to be completed in early 2011. (August 10, 2009)