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June 24, 2014

Spain

Will the New Pescanova Keep Its Shrimp Farms in Latin America?

 

While Pescanova’s Chile and Portugal aquaculture subsidiaries will probably be lost, the multinational banks that now own Pescanova will probably keep the Latin American shrimp farms within the group because they are operating and very profitable.  Their future will probably be known in the next few months because they are currently negotiating refinancing with local banks.  California-based Red Chamber, the highly secretive importer, exporter and processor of seafood, one of the largest in the United States, is co-packing shrimp at Pescanova’s Guatemala plant and may acquire it.

 

Source: Undercurrent News.  Editor, Tom Seaman (undercurrent@undercurrentnews.com).  Pescanova to Keep Latin American Shrimp Farms, for Now.  Alicia Villegas and Tom Seaman (alicia.villegas@undercurrentnews.com).  June 24, 2014.

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