Fishing vessel belonging to Arbumasa fleet. (Photo: Arbumasa)

Arbumasa taken over by Chinese company

Arbumasa, of the Spanish group Amasua, has finally been taken over by Chinese company Dalian Huafeng Aquatic Products following the settlement of a purchase agreement.

The operation, which was closed last week in Madrid, includes the processing plant with a cold store chamber located in Puerto Deseado, Santa Cruz, and the fleet composed of ten vessels, eight shrimp boats and two jiggers operating on squid.

The talks had started last year, after the collapse of the pre-agreement for the purchase of CONARPESA, and finally were successful.

Sources close to the negotiation told Mar&Pesca that there will be no changes and that the company will continue to maintain the same personnel structure, retaining even the current managers.

Through a statement, Amasua said that Amador Suarez group and Dalian Huafeng "have signed an important business collaboration agreement, which will be key to the future of both companies and which implies the entry of Dalian Huafeng, mainly directed to its capture branch, in the Spanish business group".

According to the statement, the companies will cooperate in sales with Krustagroup and under an exclusive marketing agreement they will sell shrimp under Arbumasa brand in markets such as Spain, Italy, the rest of the European Union or Japan as well as other Asian countries. Meanwhile, Dalian Huafeng will have the exclusive rights to sell Arbumasa brand shrimp in the Chinese market.

"Both groups have set significant growth targets within this joint venture, both at (fresh or frozen) capture level as well as commercial level, taking advantage of their complementarity in various fishing grounds, products and markets," Amasua said in the statement.

The agreement has been approved by all the Spanish banking entities that participated in the Amasua debt restructuring process, which has been settled prior to this transaction.

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