Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


The new company that will result from the merger, is expected to begin operating within six months. (Photo: Itata/El Golfo/FIS)

Two seafood companies merge operations

Click on the flag for more information about Chile CHILE
Wednesday, January 26, 2011, 00:00 (GMT + 9)

The companies Pesquera Itata S.A. and Pesquera El Golfo have signed an agreement to merge all their operations and to create a new firm.

The company is expected to begin operating within six months and is estimated to generate revenues of USD 400 million annually.

According to preliminary valuations performed by financial advisors from both companies, the participation of Pesquera Itata would be 54.24 per cent, leaving El Golfo with 45.76 per cent.

Information delivered to the Superintendency of Values and Insurance of Chile (SVS), stated that the decision to merge the two firms is due to "the new scenario caused by the reduction in mackerel quotas, which is expected to last for numerous years, the current regulatory uncertainty and a strategic decision by both companies to promote their businesses in the fisheries and aquaculture sectors."

For his part, the president of El Golfo, Jaime Santa Cruz, said the future looks promising.

"The agreement which we have reached will allow us to face the future with great optimism, for both the extractive and aquaculture sectors, in which we operate very similarly and is complementary," said the businessman.

According to Sergio Sarquis, president of Pesquera Itata, this decision was taken "in the current context of the reduced extraction quotas, regulatory uncertainty and the significant synergies that will arise from the merger of two companies that have very similar business cultures," reports the newspaper La Tercera.

Currently, Pesquera Itata operates a fleet of purse seiners, a fish meal plant in Region III, as well as two fish meal plants and a frozen mackerel factory in Region VIII.

Furthermore, in the aquaculture sector, the company began cultivating and processing salmon in Region XI in 2006, with the aim of harvesting mussels in the area of Chiloé.

Meanwhile, El Golfo has a purse seiner and trawler fleet, a fish meal plant in Talcahuano and another in Corral, as well as two fish processing plants for human consumption in Region VIII.


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

 


 Print


Click to know how to advertise in FIS
MORE NEWS
Norway
Jul 2, 06:00 (GMT + 9):
Revolutionary Norwegian Project Transforms Industrial CO₂ Emissions into Sustainable Salmon Feed
Ghana
Jul 2, 05:00 (GMT + 9):
Ghana's Aquaculture Set for Sustainable Boost as ASC and Chamber of Aquaculture Forge Strategic Partnership
Viet Nam
Jul 2, 04:00 (GMT + 9):
Vietnam's Seafood Sector Navigates Global Headwinds to Meet Ambitious Export Targets
Spain
Jul 2, 02:00 (GMT + 9):
Cepesca Takes Spanish Fishing Demands to Brussels in Historic Meeting
Norway
Jul 2, 00:10 (GMT + 9):
Norwegian Seafood Consumption Sees Significant Decline Over Past Decade Amidst Soaring Prices
Russian Federation
Jul 2, 00:10 (GMT + 9):
Russia's Far East Salmon Season Surges: Pink Salmon Run Prompts Major Forecast Adjustment
Worldwide
Jul 1, 06:00 (GMT + 9):
World Bank Report: Sustainable Aquaculture Poised to Generate 22 Million Jobs and Trillions in Investment by 2050
Spain
Jul 1, 06:00 (GMT + 9):
Not a Mussel in Cobre San Rafael's Hands: Opmega Stops Unloading at Vilaxoán Port Due to Environmental Ethics
Norway
Jul 1, 03:00 (GMT + 9):
Norway Pelagic Fishing Update Week 25
Argentina
Jul 1, 01:00 (GMT + 9):
Argentina's Shrimp Industry Faces Unprecedented Crisis, Billions in Losses Amid Labor Dispute
Russian Federation
Jul 1, 00:30 (GMT + 9):
IN BRIEF - Record Sales as Russia's 'O!Mega Taste Pollock Festival' Concludes
Republic of Ireland
Jul 1, 00:10 (GMT + 9):
Irish Fishing Industry Faces Staggering €800 Million Loss Under New EU-UK Brexit Deal
Brazil
Jul 1, 00:10 (GMT + 9):
AQUISHOW 2025: Health Course Unites Latin American Tilapia Leaders, Forging Sustainable Future
China
Jul 1, 00:10 (GMT + 9):
Insect Protein Boosts Shrimp Surimi: New Research Unlocks Enhanced Texture and Nutrition with Bee Pupa Powder
Spain
Jul 1, 00:00 (GMT + 9):
Other Media | La Voz de Galicia: Anfaco Changes Its Surname



Lenguaje
FEATURED EVENTS
  
TOP STORIES
New Mississippi Seafood Labeling Law to Require Restaurants to Distinguish Domestic and Imported Products
United States Measure, Effective July 1, Aims to Inform Consumers and Promote Local Production, Despite Concerns Over Potential Shortages. BILOXI, Mississippi –  Starting July 1, a new seafood...
Fisherman's Day: Beyond the Ritual
Peru Every June 29th, as tomorrow, Peru fervently celebrates Saint Peter's Day and —in honor of his profession— Fisherman's Day. This deeply symbolic date combines religious devotion to the apo...
Vietnam's Tuna Exports Rebound in May 2025 Amid Global Trade Shifts
Viet Nam Producers Navigate US Tax Concerns and Middle East Instability by Diversifying Markets. HANOI – After facing headwinds in early 2025, Vietnam's tuna exports saw a significant recovery in May, r...
Anchovy-Dominated Diets Threaten West Coast Salmon, Study Reveals Fatal Vitamin Deficiency
United States New Research Links Ocean Shifts to Thiamine Deficiency, Killing Half of Endangered Chinook Fry and Deepening Salmon Crisis. SAN FRANCISCO, CA – A widespread vitamin deficiency, triggered by an ...
 

Umios Corporation | Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Aquaculture Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2025 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER