PARIS: Sea Value Group, one of the world’s leading tuna processors, is negotiating to acquire another tuna-processing plant in France, the company’s executive said in a seminar held by the French Embassy in Bangkok week.
According to details, Senior Vice President Chanintr Chalisarapong said that the target company currently has around 500-600 employees. In case that the deal cannot go through, Sea Value will consider doubling the production capacity of its French subsidiary Sea Value Atlantic, which it acquired in the end of October 2015.
Sea Value was established in Thailand in March 200 4 by a group of strategic partners, comprising Thai seafood processors Wales Group and PTN Group; the world’s leading marine raw material sourcing and traders Itochu and FCF Group; and the North America’s leading tuna processor Bumble Bee.
Amornphan Aramwattananont, senior vice president and the son of the company’s President Poj Aramwattananont, told local media last year that it has allocated the budget of 2-3 million euro to invest in raising the production capacity in Sea Value Atlantic. The expansion is expected to generate 20 million euro in addition to the current annual sales revenue.
He said 95 per cent of total revenue comes from overseas market and the remaining 5 per cent from domestic. The overseas market revenue generated by the company was 24 billion baht ($680 million) in 2016, up 5 per cent from the previous year. The company is targeting overseas revenue of 30 billion baht ($850 million) by 2022. Meanwhile, the company approximately has revenue of 1 billion baht ($28.3 million) per year from the domestic market. It aims to double its domestic sale revenue in the next five years.
