Japanese conglomerate Mitsubishi Corporation has merged its two major salmon farming companies in Chile into a single entity.
The decision to move Salmones Humboldt into the newly created Cermaq Chile went into effect Thursday, 1 December. According to a joint press release, the merger was planned and implemented representatives from both firms. Union representatives have been informed during the process and customers are being notified of the changes, the company said.
"This integration provides us with a valuable opportunity to increase competitiveness and strengthen our position as a global salmon supplier, with a strong emphasis on product quality and process sustainability," said Francisco Miranda, COO of the merged company.
Mitsubishi purchased Cermaq ASA in 2014, precipitating the move announced on Thursday. Mitsubishi said in a press release it expects the merger to enhance best practices and the competitives of the new company, which has a combined 130 seawater concessions and 15 fish farms.
"A merger is a challenging process, the cultures of the company must be united, the business processes and computer systems must be complemented,” Miranda said. “To get a successful result requires employees to give their best. In this way we are going to build a strong and united company culture.”
