Chilean fishing and salmon-farming firm Camanchaca has announced that it will close its northern farming division, which is dedicated to the cultivation of abalone.
On 28 January, Camanchaca’s board of directors decided to shut down operations in the division after having suffered EBITDA losses of USD 9.3 million (EUR 9 million) between 2016 and September 2024, the company reported to Chile’s securities regulator CMF.
Camanchaca had explored different alternatives to recover profitability in the division but was unsuccessful, it said.
The existing larger portion of abalone biomass will be cultivated during the first half of this year for harvesting, processing, and sale during 2025, while the smaller biomass will be disposed of, Camanchaca CEO Ricardo García said in a letter to the CMF …