Pescapuerta facilities. (Photo: Pescapuerta)

Pescapuerta will be 'marketing partner' after selling Namibian subsidiary

The firm Pescapuerta from Vigo confirmed the sale of its 49 per cent stake in its subsidiary in Namibia Tunacor Fisheries Limited to Kaume group, but it clarified that it keeps seafood product marketing in the European market.

"Production is transferred, but we’re going to be partners in marketing, it is an agreement for future growth," informed the company, which is the second largest Spanish fishing group after Pescanova.

"It is not a splitting or abandonment process but a continuity one" stressed sources from the group that bills more than EUR 180 million a year.

This sale is made as part of the expansion plan undertaken by Pescapuerta, a firm that in 2009 acquired the company Elmar, owner of Onda, the newspaper La Voz de Galicia reported.

Pescapuerta comprises some 20 companies engaged in capture fishing, food processing and marketing. It possesses its own fleet and offices in China, Namibia, Argentina and Peru, and a factory ship in Russia.

Tunacor’s new group of shareholders includes the following companies: Compass Fishing, Tumina Fishing, Voorbok Fishing, Atab Fishing, Belinda Fishing and Corvima Group. All these companies are fishing-right holders of several species -- mainly hake and monkfish on the Namibian fishing ground.
Pescapuerta sources explained that the entry of Namibian partners will contribute a significant volume of quotas.

"The sale is good for us," said Pescapuerta’s managers in statements to Faro de Vigo. "It will be a great project for the future -- for the Spanish and the Namibian parties."

Related article:

- Pescapuerta gets rid of shares in Tunacor

By Analia Murias
[email protected]
www.seafood.media

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