Thai Union Group takes over German seafood producer

[snoop1130]

Thai Union Group takes over German seafood producer
Thai PBS

THAILAND -- Thai Union Group, the country’s leading seafood exporter, has recently acquired the majority shares in Germany’s Rugen Fisch AG,leading canned seafood producer in Germany, in a strategic move to consolidate its market share in Europe.

TU CEO and chairman Thirapong Chansiri said Monday that since Germany is one of the biggest seafood market in Europe, TU’s partnership with Rugen Fisch AG would make TU the market leader of seafood in Germany and strengthen its market position in Europe.

He pointed out that tuna has recorded the biggest growth of the seafood segment in Germany and the product has the potential of further expanding.

Rugen Fisch AG’s annual turnover was estimated at about 5.6 billion baht and its main products include herring, mackerel and salmon in both fresh and frozen forms. They are sold under the brandnames of Hawesta, Ostsee Fisch, OEM.

Rugen Fisch AG is currently employing 850 workers scattering in three factories in Germany and Lithuania.

Source: http://englishnews.thaipbs.or.th/thai-union-group-takes-over-german-seafood-producer

-- Thai PBS 2015-12-21

[canuckamuck]

Smart move, now they can ignore the bans.

[pookiki]

Smart move, now they can ignore the bans.

Thought exactly the same thing when I read the article! Vertical integration works wonders.

[onetime]

I wonder if the German people will buy the product when they find out how Thailand uses slaves to process it.

[Thian]

I wonder if the German people will buy the product when they find out how Thailand uses slaves to process it.

Or if those guys from Greenpeace come demonstrating in front of their main gate.

[Srikcir]

Dumb move as it places Thai Union squarely in the regulatory sights of both Germany and EU.

TU could hide behind the corporate veil in Thailand but in the EU it will have few secrets, especially with foreigners involved directly in the company business. With so much invested capital Rugen Fisch AG it will have to self-regulate itself or lose significant value; something that wasn't a concern before.