Joyvio Food's Chile unit gets key compliance approval

Joyvio Food (SZSE:300268) announced that its Chilean subsidiary, Australis Seafood S.A., received approval from Chilean environmental authorities for its Obstrucción farming center's compliance plan. This approval resolves overproduction issues at the center. The approved plan includes implementing production control processes, conducting training, and monitoring environmental indicators. As part of the agreement, Australis will reduce production by 2,821 tons between 2022 and 2028 to compensate for prior overproduction. With this approval, Australis has now received the green light for 34 of its farming centers' compliance plans, with 22 approved and 12 rejected. The company has filed administrative appeals for 10 of the rejected plans. Successful execution of the approved plans will allow Australis to avoid further penalties.