May 19, 2010


China Fishery acquires Pesquera Alejandria


Industrial fishing company China Fishery Group in Peru buys the entire share capital of a Peruvian fishing company Pesquera Alejandria for US$95 million.


Alejandria owns a steam-dried fishmeal processing plant in Peru with a processing capacity of 40 tonnes of raw fish per hour.


With this acquisition, the group's share of the annual allowable catch of Peruvian Anchovy has reached 6.05% in North of Peru and 10.91% in South of Peru.


Managing director of China Fishery, Ng Joo Siang, says as the world's population continues to grow and fish enjoys rising popularity as a healthy source of protein, the group believes that the value of under-utilised fish species such as the Peruvian Anchovy will increase in time.


He adds that this acquisition is in line with the group's strategy of seizing opportunities worldwide to gain access to under-utilised yet abundant fish species.


Mr Ng added that it is also to achieve its dual aim of being a significant supplier of fish products to the fast-growing China market and a leading consolidator in the global fishing industry.