Balfego Wants To Expand Its Bluefin Business In Brazilff
28 October 2011
Brazil Source: FIS Balfegó group plans to start marketing their products in Brazil at the end of this year after having contacted large restorers of this South American country.
According to the director general of the Spanish company specialized in fishing for bluefin tuna, Juan Serrano, this international expansion will continue next year with direct sales in the UAE, where the product is accessed through intermediaries at present.
Balfegó executives also intend to strengthen its presence in European countries like France and Spain, which currently represent 22 percent of its market share.
Serrano admitted that Catalan fishing has been internationalized “in reverse,†since when it was created; its only market was the Japanese one.
Over the years, Balfegó managed to further strengthen its business in nearer areas, the agency Europa Press reported.
In 2009, the business group went through a crisis and faced the loss of around EUR 300,000. However, Serrano made it clear that the figures would have been much more negative in the absence of an “intelligent management†by the authorities, who dispensed with Japan and resorted to bank financing.
Last year, the company recovered and made a profit of EUR 3.2 million.
And by the end of 2011, Balfegó aims to achieve revenue for EUR 3 million.
Serrano stressed that the company invested EUR 2 million in the last two years, which “highlights the company's commitment to innovation.â€
Balfegó catches about 2,500 tons of tuna annually.
