Pescanova SA (Public, MCE:PVA) is a Spain-based company engaged, through its subsidiaries, in the fishing industry. The Company is a parent of Grupo Pescanova, whose principal activities include production, processing and distribution of fish as food products. The Group includes such companies as Argenova SA, Bajamar Septima SA, Frinova SA, Pescafresca SA, Marnova Lda, Pescamar Lda, Pesquerias Belnova SA,Frigodis SA, Krustanord, SA, Pescafina, SA and Novagroup among others.
The Company’s activities can be divided into three areas: wild catch, farmed fish and food products. In the wild catch division, Pescanova operates through the Fishco group, which owns a fishing fleet of more than 130 vessels and several factory tankers where fish and shellfish are processed and frozen immediately after being caught. Within the farmed fish area, it operates through Acuicultura, engaged in the development of technology for the fishing activities. In the food products area, it is active through Aliholding, offering deep-frozen foods.
In 1980 Manuel Fernández de Sousa-Faro, son of the founder, together with Alfonso Paz-Andrade, son of the co-founder, took the presidency and, after a restructuring period, Pescanova became what it is now. In 1985 it joined Madrid Stock Exchange Today Pescanova Group is one of the most important Seafood Group in the world and manage fishing, acuiculture, processing and catering service with pre-cooked products.
Pescanova Group operates in 21 countries with aprox.3,400 employees.
The company is in bankruptcy (under "administration") since April 2013
The EU proposes global deal to limit fisheries subsidies European Union
The EU proposes to curb subsidies causing overfishing in WTO countries, but its proposal foresees flexibility for developing countries and takes account of the needs of fishing communities in least developed and developing countries.