By SeafoodSource staff
Published on Wednesday, March 28, 2012
Thai Union Frozen Products, Thailand’s largest producer and exporter of processed and frozen seafood products, expects to generate revenue of USD 5 billion (THB 153 billion) in 2015, driven mainly by strong growth and merger and acquisition strategies, particularly in the United States and European markets.
However, Wai Yat Paco Lee, the company’s financial controller, yesterday said the company would maintain Thailand as its major production base and distribution center for other countries, because of Thailand’s good infrastructure.
The company may consider expanding its business to other Asean member states such as Burma and Cambodia if those countries develop infrastructure to serve investment in the future, he said.
TUF expects sales of almost USD 4 billion this year, which would be 15 percent above last year’s total of USD 3.2 billion. An annual 15 percent increase is also targeted in the following two years.