Camanchaca chairman Jorge Fernández Valdés. (Photo: Camanchaca)

420 jobs facing danger in Camanchaca

CHILE
Wednesday, June 10, 2015, 22:00 (GMT + 9)

On the very day when Compañía Pesquera Camanchaca SA informed the Superintendency of Securities and Insurance (SVS) on the likelihood that Empresa Portuaria Iquique (EPI) could end the concession in the port of Iquique, this firm sent a letter to the company confirming the ideas expressed in previous letters.

This was communicated to the SVS by Camanchaca chairperson Jorge Fernandez Valdes through a material event, which also indicated that EPI showed now open to receive and analyze proposals for relocation of the fishing firm facilities in this port terminal.

"Camanchaca has sent EPI to relocation and conceptual ideas that do not affect, as we see it, the historical port operations, or those arising from the realization of investment or development plans that have been known, approved and funded to that very port," pointed out the executive.

According to him, until 8 June they had not received a reply from EPI on these proposals.

"Despite this, we continue to study the performance of all those actions that follow in order to ensure respect for the rights granted to us," he added.

The entrepreneur reported that the book value of the facilities through 31 March was USD 10.4 million and represents 1.6 per cent of total assets of the fishing company.

He emphasized that if the fishmeal and fish oil processing plant closes, about 420 employees will be laid off.

In addition, the closure would entail the termination of service of at least 20 local contractors, employing about 280 staff. And another 450 suppliers from different specialties would be negatively impacted by the closure.

Fernandez Valdes also said that "in this eventuality, the discontinuance of payment of the license fees, contributions and other payments to the Treasury would occur, which in the years 2011-2014 represented a total of USD 9.3 million, of which USD 3.2 million correspond to payments made to EPI ".

Moreover, he noted that Camanchaca maintains its Tradable Fishing Licenses Class A on the resources of anchovy, Spanish sardine and horse mackerel in the fisheries in the north of the country as well as the operation of its fishing fleet.

"It is useful to note that during the four years between 2011 and 2014, the Northern Fishing Division of Camanchaca generated revenue of USD 282 million, with an annual average of USD 70.5 million, and a gross margin of contribution accumulated amounting to USD 52 million and an annual average of USD 13 million," he added.

Related article:

- Iquique port operator ends concession granted to Camanchaca

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

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