The main activity of San Arawa is the capture of hoki, Southern blue whiting and Patagonian toothfish and processing on board.

San Arawa taken over by Norwegian company

ARGENTINA
Monday, March 25, 2019, 23:50 (GMT + 9)

After a long negotiation process, a new Norwegian capital company has bought 100 per cent of the stock of San Arawa.

The president of the Norwegian investment firm Pescamar Holding (Pescamar), Dag Wittusen, announced the purchase of San Arawa and the settlement of an agreement for the management of the ships with Estremar, owned by the Norwegian investment company Ocean Harvest Invest and recognized as one of the leading seafood companies in Argentina, Mar & Pesca reported.

"We are very excited about the announcement of the acquisition of San Arawa and the management in charge of Estremar. San Arawa has a long and impeccable career formed by a team of highly qualified employees and of great prestige throughout the world. We firmly believe in our joint skills to ensure the long-term operations of the company for the benefit of all those concerned," Wittusen said in a statement.

Wittusen is convinced that the administration of Estremar will be profitable and assured that Pescamar is "really committed to working with San Arawa and Estremar’s team".

For his part, Alan Mackern, president of Estremar, said his team "is ready to take on the difficult task that lies ahead in the management of operations in San Arawa." He admitted that it will not be an easy change and that they will need the full support of all employees and interested parties. "In addition, we will need biological and industrial factors to be favorable and also a bit of luck, but we will do everything possible to be successful," he added.

Both Pescamar and Estremar will implement a cost reduction program and believe that the company can return to profitability within 6 to 12 months after closing.

Under the new management, the central office in Mar del Plata will be closed and all administrative functions will be transferred to the Estremar headquarters in Ushuaia and to the commercial office in Buenos Aires.

The main activity of San Arawa is the capture of hoki, Southern blue whiting and Patagonian toothfish and processing on board. San Arawa is the result of a joint Argentine-New Zealand partnership, formed by Eduardo Santiago González Lemmi and Sanford Limited.

Pescamar Holding is a private investment company based in Norway that focuses on seafood markets worldwide. The company belongs to Dag Fasmer Wittusen and his family.

San Arawa produces Surimi and fishblocks from Hoki, Southern Blue Whiting, Grenadier, PAtagonian Cod, Australis Hake and Kingclip.►

Estremar is one of the main seafood companies in Argentina. Currently, it focuses on the capture, production, sale and commercialization of Patagonian toothfish and of several pelagic species from sustainable and well-managed fisheries in the waters of the Argentine continental shelf. Estremar has operated from Ushuaia since 1992.

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