LISTED seafoods processor Alliance Select Foods International, Inc. (ASFII) said on Thursday it is allocating around P30 million capital expenditure (capex) for this year for the acquisition of equipment that will enable the company to introduce new product lines, while boosting its presence internationally.
“[The capex will most likely] in terms of investing, it’s mostly on equipment,” ASFII President and Chief Executive Officer (CEO) Raymond See told reporters on the sidelines of the company’s annual stockholders’ meeting held in Pasig City.
“We want to expand our product line so that’s investing in terms of logistical capability, that’s what we want to improve as well. So it’s mainly on those things and of course in terms of production efficiency so there’s a lot of small things that we are investing in,” he added.
Majority of the operations of the company are in Europe, Japan, and Middle East which just started in 2016.
“Majority of our customers are still in Europe and this is mainly driven by the [Generalized Scheme of Preferences Plus]—that was granted to the Philippines for, and tuna was one of the products that enjoys that benefit in terms of exporting that to Europe that’s why that’s where majority of our customers are,” See said.
In terms of expansion in US, See said: “US is a tough market for us but of course if there are opportunities there then we will grab it.”
This year, ASFII is expecting to expand its tuna and salmon canner in Japan and Middle East. In fact, the company has increased its sales into the Japanese market.
“We started last year in the Middle East and of course we want to continue to grow the market presence in those regions but it doesn’t mean that we’re stopping or slowing down in Europe,” he said.
Alliance Select was incorporated in 2003 as a seafood processor which exports canned seafood products to Europe, North America, Asia, Africa and South America. Its products include institutional and retail packed canned tuna, smoked salmon, salmon by-products and fishmeal.
The company has a main facility in General Santos City operated by its subsidiary Big Glory Bay Salmon and Seafood Company Inc., and is globally present via international subsidiaries in the United States, Thailand, Indonesia and New Zealand.