Pescanova

ITS HISTORY AND EVOLUTION

Pescanova was founded in 1960 by José Fernández López and his brothers. They had experienced in the field of industrial refrigeration because they had created twocompanies related to this industry a few years ago: Frilugo and Frigsa.

In the late 50, José Fernández often spent time in Vigo for work, and here he contacted with Valentín Paz Andrade, an expert infisheries.

Because of this relationship Pescanova was born with the launching of its first ship in June 1960. The company had developed a new technology in the world of fishing: its ships were truefactory ships, and the fish were processed and frozen on board. This innovation was revolutionary in the industry, and the company soon began to grow.

New species were incorporated into the catalog ofproducts marketed by Pescanova, and its ships started to operate in new grounds. The fleet gradually grew, and the company became the national leader of seafood.

In the 80 following market trends,the company opened the factory Frinova to offer all kind of breaded products and prepared meals from fish. Pescanova also grew largely with the purchase of other companies involved in some stage offishing, processing or trading as Hasenosa or Pescafina among others. In this way the company was consolidating its vertical integration project.

The growth of exports has been steady: Pescanova isthe leader of the Portuguese seafood market, and it also has a significant presence in the European and American market. In 2006 to enter the French market, the Galician company purchased Krustanord,an important French marketer company. With this acquisition France came to represent 10% of group sales. The company has also bought other companies in several countries: in 2007 it was acquired themarketer company of prawn (gambas) Ladex in the USA, in 2008 it purchased two Ecuatorian shrimp companies (Promarisco y El Rosario), and many other in different countries. The growth strategy of the...