Thai Union Frozen Products on Wednesday posted a first-quarter net profit of THB 653 million (USD 18.6 million, EUR 14 million), up from THB 578 million (USD 16.6 million, EUR 12. 5million)in the first quarter of 2008 and THB 307 million (USD 8.8 million, EUR 6.6 million) in the fourth quarter of 2008.
President Thiraphong Chansiri also formally announced that the company is spending USD 20 million (EUR 15 million) to build a tuna cannery in Lyons, Ga., which will open on 1 October, and refurbish a tuna cannery in American Samoa.
He said the company is spending another USD 34.2 to 39.9 million (EUR 25.7 to 30 million) this year to construct more cold-storage warehouses and improve efficiency.
Thai Union is Thailand's largest canned tuna exporter and owns Chicken of the Sea in San Diego, one of the United States' top three canned tuna brands.
