Sea Value tuna products. (Photo: Sea Value)

Sea Value negotiates purchase of French tuna processing plant

Seafood company Sea Value is negotiating the purchase of another tuna processing plant in France, which currently has a workforce of 500-600 people. 

However, if it does not get the expected result, it will focus on doubling the production capacity of its French subsidiary Sea Value Atlantic.

This was announced by the company's chairman, Chanintr Chalisarapong, at a seminar held last week by the French Embassy in Bangkok.

At the meeting, Chalisarapong noted that French small and medium-sized enterprises in the fishery sector were 'friendly' to foreign investors since they had realised that could not survive without partnerships with Asian canneries.

“The key point is that SMEs have limited markets in France. Through partnering with us, they can expand their markets,” the executive highlighted.

Sea Value was established in Thailand in March 2004 by a group of strategic partners, comprising Thai seafood processors Wales Group and PTN Group, marine raw material sourcing and traders Itochu and FCF Group, and the US tuna processor Bumble Bee.

According to Amornphan Aramwattananont, senior vice president, last year the company allocated EUR 2-3 million to invest in increasing production capacity of Sea Value Atlantic, the French subsidiary acquired in October 2015. The expansion is expected to generate EUR 20 million in addition to the current annual sales revenue, The Nation reported.

Currently, 95 per cent of total revenue comes from overseas market and the remaining 5 per cent from the domestic one.

The overseas market revenue generated by the company was THB 24 billion (USD 680 million) in 2016, up 5 per cent from the previous year and the company's goal is revenues to reach THB 30 billion (USD 850 million) by 2022.
 
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