(Yicai Global) July 29 -- Shanghai Fisheries General Corporation (Group), a state-owned deep-sea fishing and seafood-processing corporation, is to focus more on the expansion of its overseas operations and imports of marine products, Group President Mr. Pu Shaohua said yesterday.
Subsidiary Shanghai Kaichuang Ocean Resources purchased Spanish seafood company Conservas Albo last month for EUR61 million (USD67.65million) in order to expand its global market.
Conservas Albo sells mid- to high-end brands of canned fish products and fast food tuna products in several European countries, North America and Africa.
The acquisition will improve the company's marine product processing capabilities overseas and also increase the supply of quality seafood to the domestic market, Mr. Pu told Yicai.
Last year, seafood products shipped back home for sale accounted for half of the company's total fishing output. Quality marine products imported by the company jumped to 72,000 tons last year from 15,000 tons in 2011, showing an annual average growth of more than 50 percent, company figures show.