Maritime Reporter, July, 1978

<BODY> <div> Zapata Corp. Forms New Fishing Group- Conrad Named President Zapata Corporation, Zapata Tower, P.O. Box 4240, Houston, Texas 77001, announced that it has consolidated all of its fishing operations under the management of a new wholly owned subsidiary, Zapata Protein, Inc. The company said that Earl J. Conrad Jr. will be president of the new Houston- based unit. Zapata said that the consolida- tion involves its menhaden, an- chovy, tuna and sardine fishing and processing operations, which previously had been conducted by a number of independent subsid- iaries and affiliates. The company explained that, under the new Zapata Protein organization, these functions are being centralized into four divisions. Ronald C. Lassiter, Zapata Cor- poration senior executive vice president, said that the company's fishing activities have grown sub- stantially in recent years until today Zapata is one of the largest companies in the Free World's fishing industry. He said that, with the new centralized organi- zation, management has expanded its continuity of effort in dealing with the larger scope, and broader geographical and resource diver- sity of its fishing businesses. "We plan to continue to expand Zapata's participation in the fish- ing industry as economics war- rant," Mr. Lassiter stated. "Do- mestically, the resources in New England, the Gulf of Mexico and the Pacific Northwest are of par- ticular interest," he said. "Chang- ing international jurisdictions point the way to ventures in those countries which control access to fish resources, such as Costa Rica and Mexico," he added. Mr. Conrad, the new Zapata Protein president, comes to that company from Zapata Haynie Corporation, Zapata's menhaden fishing operation, where he has served as president since 1975. A veteran of 25 years in the indus- try, he has been associated with Zapata Haynie and predecessor companies since 1953. Also joining Zapata Protein is Michael L. Patton, who will serve as vice president-finance and ad- ministration. Previously, he held a similar post with Zapata Haynie. He has been with Zapata since 1971. Zapata Protein operations pres- ently include a total of 58 fishing vessels, 35 spotter aircraft and seven processing plants, operating in the U.S., Canada, Mexico, and Costa Rica. In Zapata's fiscal 1977, fishing provided $86.1 million in revenues, or about 20 percent of the parent company's total sales. The company's fishing operations currently employ about 2,000 peo- ple. Zapata Corporation began its involvement in the fishing indus- try in 1967, when it purchased a Louisiana menhaden fishing oper- ation which had two processing plants and a fleet of 16 vessels. In 1972, the size of the menhaden operation was doubled with the acquisition of a Baltimore, Md.- based firm which had two plants and 18 vessels. The company entered the tuna fishing business in 1973, when it made the first of several separate vessel purchases. Acquisition of a Canadian tuna cannery and fleet early in 1976 provided vertical integration for the tuna opera- tion, and gave Zapata its entry into the consumer marketplace with a substantial share of the Canadian market for canned tuna. Later that year, a Zapata joint venture on Mexico's Pacific coast began an anchovy fishing and processing operation. In 1977, Zapata transferred some of its tuna vessels to a joint venture in Costa Rica, which added tuna fishing and canning to its existing sardine fishing and processing operations. Plans for a new joint venture for tuna fish- ing and processing in Mexico are nearing completion. Under the new Zapata Protein organization, the company's ma- CARRINGTON SLIPWAYS PTY. LTD AUSTRALIA Old Punt Road, Tomago, N.S.W. 2322 Telephone (049) 64 8071, Telex AA28185, Cable "Carringtons" M.T. "Broadsound" 35M Tug powered by two 2800 S.H.P. en- gines producing a bollard pull of 75 tonnes. 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