The History of Abagold

Timeline

1984

  • Dr Pierre Hugo, then a veterinarian in Hermanus, starts researching the secrets of breeding abalone in captivity

1989

  • Based in the Old Harbour in Hermanus, experiments are undertaken to breed abalone

1991

  • A pilot hatchery is set up in the Old Harbour in Hermanus

1993

  • Permit received to cultivate, harvest and sell abalone
  • 500,000 abalone larvae released into the Old Harbour for re-seeding

1995

  • The business is incorporated into Hermanus Abalone (Pty) Ltd

1998

  • Sea View abalone farm with 60 tonne per annum capacity established in the New Harbour
  • Cultivation of the first abalone pearls

1999

  • First 100kg of live farmed abalone is exported to the Far East

2002

  • R35m is raised through a share issue and bank loans to finance the purchase and construction of Bergsig abalone farm in Hermanus

2003

  • The first of 1000 tanks is placed on Bergsig
  • Hermanus Abalone (Pty) Ltd changes its name to Abagold (Pty) Ltd

2004

  • The staff complement grows to 120 employees

2005

  • The Bergsig development is completed

2006

  • Abamax Abalone Farm (Pty) Ltd sets up in the New Harbour, Hermanus, as a joint venture with an empowerment partner
  • Abagold’s world-class processing facility is commissioned
  • First dried abalone exported

2007

  • Abagold develops the “Pure Gold Abalone” brand and sells its first dried product under this brand
  • Abagold becomes the sole owner of Abamax Abalone Farm (Pty) Ltd (the farm Amaza)
  • The Company secures the lease for a 6.4 ha site in Hermanus in partnership with the Overstrand Municipality and local communities for the development of an integrated aquaculture project

2008

  • Abagold is converted to a public company and starts an “over-the-counter” market for its shares
  • The staff complement grows to 240 employees

2010

  • Abagold purchases a 7 ha site adjacent to Bergsig farm to develop an integrated aquaculture facility, named Sulamanzi
  • Abagold concludes a BEE deal by issuing 25% plus 1 share for cash

2011

  • Amaza farm is fully developed with a capacity of 7 500 baskets
  • Construction of the ambitious Sulamanzi project is started including a new water treatment dam and secondary pump house
  • Abagold’s processing facility is awarded the prestigious HACCP certification

2012

  • The first of 15 units on Sulamanzi is commissioned and 2 million abalone are moved onto the farm
  • Abagold unveils its alternative energy plans, including a world first Wave Energy Converter design
  • A new computer-aided sorting system installed at Sea View
  • A formal human capital strategy is developed
  • Abagold takes delivery of its first two Rodelta pumps, which will provide a pumping capacity of 5000 cubic meters per hour each
  • Construction of a new Head Office building is started
  • Our farms produce a record growth of 240 tonnes

2013

  • Revenue up by 10% to R71m and net profit before tax 31% higher
  • Record growth of 310t is recorded (29% higher than 2012)
  • Total tonnage on the farms increase by 19% to reach 474t
  • Admin staff move into the newly built Head Office on the Sulamanzi site and Sea View staff facilities are expanded and upgraded
  • Increase in live weight sold during the year from 205 tons to 207 tons in 2013
  • Newly developed Sulamanzi farm reaches 11,500 baskets and houses 50t
  • Our hatchery produces a record 4.3 million spats (2012: 3.6m) and sell excess spats to the value of R2.1m (2012: R1.1m)
  • Abagold becomes self-sufficient in the manufacturing of its artificial feed needs producing 30t per month
  • The lease and environmental approval is obtained for the construction of its Wave Energy Converter
  • Conversion of farms to the new water reticulation and filtration system commences
  • Abagold wins inaugural South African Premier Business award for Exporter of the year 2013
  • Abagold wins Cape Chamber of Commerce Innovation Award