Thai Union subsidiary Européenne De La Mer closing smoked salmon plant in Poland
Thai Union European subsidiary Européenne De La Mer has announced it will be closing its smoked salmon factory in Dąbrowa Chełmińska, near Bydgoszcz, Poland.
The move comes three years after Thai Union closed its subsidiary salmon smoker Edinburgh Salmon Company in November 2018.
Européenne De La Mer supplies salmon and smoked fish products for European market.
The closure of the Poland plant comes as it faces heavy losses because of the “highly challenging market conditions and a lack of competitiveness with peers”, Thai Union said in a 1 October statement. The company said it will provide support for the employees of the Polish plant and is in the process of notifying its customers and suppliers of the decision.
Thai Union reported a record increase in its profits in Q2 2021 thanks to strong performances from its frozen and chilled sales. The company’s net income in Q2 2021 surged 36.5 percent year-on-year to THB 2.34 billion (USD 70 million, EUR 59.5 million), the highest quarterly profit level it has ever achieved. The profit growth was attributed to “strong core three businesses, margin expansion, and a turnaround of Red Lobster at much lower loss,” Thai Union said
However, in Q2, Thai Union’s losses from its investments in associated firms stood at THB 74 million (USD 2.2 million, EUR 1.9 million), though that total was down from THB 579 million (USD 17.3 million, EUR 14.7 million) a year earlier.
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