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Shipping seafood from Valastro to be exported. (Photo: Valastro)

Grupo Newsan wants to buy fishing company Valastro

Click on the flag for more information about Argentina ARGENTINA
Monday, April 16, 2018, 21:50 (GMT + 9)

Grupo Newsan has initiated the due diligence process for the purchase of 80 per cent of the company from Mar del Plata Valastro, a process that could last six months, informed sources close to the group.

The operation excludes beamers Xeitosiño and María Alejandra 1°, brand new vessel built in the shipyard Armón Burela, from Vigo, Spain, with which Newsan maintains a 50 per cent partnership.

"If the process comes to fruition, Newsan will keep 80 per cent of Valastro and will continue to maintain 50 per cent with the two beamers", explained one of the sources consulted by Mar&Pesca.

Since the beginning of this month, Valastro group officially has its new 37.5 metre-long freezer vessel María Alejandra 1°, which was ordered to be built in Spain in a joint venture with Newsan and with an investment of EUR 5.5 million.

This vessel is one of the most modern in the Argentine fleet and will replace María Alejandra, sunk in 2003.

Apparently, Newsan, which again leads seafood exports with almost 23,000 tonnes of shrimp, seeks to strengthen its presence in the port of Mar del Plata.

Since 2014, through its Export Business Unit Newsan Food, the Group has become one of the main seafood exporters in the country, and supplies more than 65 countries around the world.

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