Bianfishco to sell property, repay debt


SeafoodSource staff

Published on
June 7, 2012

Directors of Binh An Seafood Joint Stock Co (Bianfishco) on Thursday announced plans to sell property worth more than VND 150 billion (USD 7.2 million) to pay off debt and boost production.

Bianfishco closed in February with VND 1.5 trillion (USD 73.2 million) in debt to financial institutions and suppliers. It resumed operations in May.

At a meeting with the Finance Ministry’s Debt and Asset Trading Co and commercial banks yesterday the company said it would restructure loans and create working capital to buy fish for processing.

Click here to read the full story from VietNamNews >

Want seafood news sent to your inbox?

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500