Tuna operation facilities. (Photo: Dongwon Group/FIS)
Dongwon acquires Senegalese tuna cannery
(SOUTH KOREA, 11/21/2011)
Food and the financial sector conglomerate Dongwon Group wants to invest USD 21 million into a Senegalese cannery. The deal was recently signed for the acquisition of the Societe Nouvelle Conserveries du Senegal (SNCDS), a leading cannery in the country.
The move will allow Dongwon Group to build up its presence in Europe and Africa.
“Dongwon will set up a new subsidiary in Senegal, which will operate SNCDS. The move is designed to expand our presence in Africa,’’ a Dongwon spokesman said. “Through the investment, Senegal will be able to create more than 2,000 jobs as well as learn the cutting-edge technology and operating knowhow of Dongwon.’’
Chairman Kim Jae-chul of Seoul-based Dongwon Group participated in the signing event along with Senegal’s Minister of Maritime Economy Khouraichi Thiam, SNCDS Chief Executive Ousseynou Ndiaye and Presidential secretary Abdoulaye Kamara.
SNCDS has an annual output capacity of 25,000 tonnes of canned tuna and other fishery products.
Dongwon runs the key subsidiaries of Dongwon Industries, the world’s top tuna fishing company, and Dongwon F&B, a manufacturer of various processed foodstuffs.
“SNCDS is the largest cannery in Africa. With this acquisition, we will tap into other African countries with potential as well as strengthen our presence in Europe,’’ the Dongwon spokesman explained. “In addition, we plan to supply products from Senegal to the US through StarKist, a company we absorbed a few years ago.’’
Dongwon took over the StarKist division of Del Monte Foods for USD 359 million to set up around two-fifths of the global processed tuna market.
By Natalia Real
[email protected]
www.seafood.media
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