Fishing vessel belonging to Pescanova. (Photo: Pescanova)

Nueva Pescanova intends to boost its US sales

Nueva Pescanova plans to invest some EUR 125 million in the next four years, EUR 65 million of which will be destined to maintain its infrastructure and around EUR 60 million to generating capital investments, according to the business plan that the company has just revealed.

Among other measures, banks that control the company have planned to invest about EUR 43 million to renovate the fleet and around EUR 4.5 million to open a research farming unit for new species.

According to the plan presented by the fishing firm’s president Jacobo Gonzalez-Robatto to the members of the board, the goal is to achieve sales of EUR 1,445 million and EBITDA of EUR 139 million in 2020.

The focus will be on the European market (especially in Spain, Portugal, France and Italy) and the United States, where it is expected that retailers’ sales grow by 12 per cent by the end of the period and represent EUR 767 million, reported Expansión.com.

Under the plan designed until 2020, the company expects a 60 per cent growth in the US, focused on frozen fish and refrigerated processed products.

In that market toothfish, tilapia, octopus and mahi-mahi will be focused.

The business strategy will be guided through Pescanova Inc, a subsidiary with which the Galician multinational firm was introduced in the north American market several decades ago.

For Spain, growth in sales of 8 per cent is expected, with increases in the full range of fresh, frozen and chilled products.

It was also learned that Nueva Pescanova wants farmed shrimp to become a high-consumption product worldwide. This activity will be addressed through Promarisco subsidiary, with plants in Ecuador, and also the Camanica Group and Serviconsa in Nicaragua.

Another product that the company will strengthen over the next four years is the surimi, which is now produced in the facilities of Chapela that will be at 88 per cent of its manufacturing capacity; precooked products and cod, La Voz de Galicia reported.

In addition, next year Pescanova will launch its own research and innovation biomarine centre, where the analysis of the species being processed will be performed, new products will be developed and the introduction of new species for breeding and production will be studied.

Another pillar of the business plan is to reduce expenses, which the company estimates could reach EUR 35 million. To do so, it will seek to achieve maximum efficiency of the fleet, industrial plants and fish farms, as the purchasing system.

Nueva Pescanova’s activities range from capture and farming (it has a fleet of 72 ships and 8,000 hectares of aquaculture farms) to marketing, through processing (it owns 18 factories and a presence in 27 countries).

editorial@seafood.media
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Address:	Calle José Fernández López, s/n
City:	Chapela - Redondela
State/ZIP:	Pontevedra, Galicia (36320)
Country:	Spain
Phone:	+34 986 818 100
Fax:	+34 986 818 220
E-Mail:	info@pescanova.es
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