Camanchaca and Bío Bío to merge fisheries divisions
Both companies agreed a memorandum of understanding to merge their fisheries divisions starting on February 1st this year. Their aquaculture and fish farming activities are not going to be involved in this process.
According to Camanchaca, they will hold 70% of the property in this new company while Bío Bío is going to have the remaining 30%.
Together with their quotas of jack mackerel, sardine, anchovy and lobster, both companies will contribute with their boat fleets, processing plants, offload areas and workforce.
The general manager of Camanchaca, Francisco Cifuentes, commented that after this merge his company is in a solid position to face the reduced jack mackerel quota and operate at reasonable levels while waits for better conditions.
