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Glitz, glamour and pangasius

Binh An Seafood Joint Stock Co. (Bianfishco) — the Vietnamese pangasius processor and exporter that owes 45 local fish farmers VND 261 billion (USD 12.4 million) — plans to sell its processing facility to a Dutch financial firm, Viet Nam News (VNS) reported on Wednesday.

The proceeds from the sale will be used to pay off debts to its fish farmers. Bianfishco CEO Tran Van Tri also confirmed to VNS that the company has paid its 1,200 workers their February salaries, worth VND 3 billion (USD 143,000), though many employees remain out of work because of a shortage of raw material.

This is the latest development in a bizarre situation that began to play out late last month when Tri replaced his wife, Pham Thi Dieu Hien (pictured), as CEO. She is no longer in Vietnam. Accoring to numerous sources, she is now in the United States.

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Seafood Expo Global

21-23 April 2015
Brussels, Belgium

Seafood Expo Global/Seafood Processing Global is the largest seafood trade event in the world. The event attracts more than 25,800 buyers and suppliers of fresh, frozen, packaged and value-added seafood products, equipment and services. Attendees travel from 150 countries to do business at the expo. Read More