Omega Protein Corporation
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Description:
Omega Protein catches menhaden (herring-like fish) and processes them into fish meal, crude and refined fish oils, and fish solubles. Animal feed makers and livestock raisers use Omega's fish meal for protein additives, while the fish oil is used in Europe in shortenings and as a food supplement. Crude fish oil also is used in aquaculture feeds and in chemicals and paints. Omega operates its own fleet of fishing vessels in the Gulf of Mexico and the Atlantic to catch menhaden. Its five processing plants are in Virginia, Mississippi, and Louisiana. Omega, which filed to go public in early 1998, is being spun off from Zapata Corp. (controlled by financier Malcolm Glazer). Zapata will retain about 75% of the company.
Address: 1717 St. James Place, Ste. 550
Houston, TX 77056
Phone: 713-940-6100
Fax: 713-940-6122
CEO: Joseph L. von Rosenberg III
CFO: Robert W. Stockton
Fiscal Year End: September
1997 Sales ($ mil.): 117.6
1-Yr. Sales Change: 25.6%
1997 Income ($ mil.): 10.4
1-Yr. Income Change: 75.9%
Employees: 1,000
Parent Company: Zapata Corporation
Company type: Subsidiary
Filing date: January 27, 1998
Expected IPO date: Week of Mar. 23
Shares offered (mil.): 6.0
Post-offering
shares (mil.): 23.676
Offering amt. ($ mil.): 90.0
Proposed offer price: $14.00 to $16.00
Proposed Symbol: OPN
Proposed Exchange: NYSE
Underwriters: Prudential Securities Incorporated; Deutsche Morgan Grenfell |
