Selonda and Dias Aquaculture to create world's aquaculture giantStaff writer ▼ | April 9, 2013
Selonda SA and Dias Aquaculture SA announced that an agreement has been reached to merge the two companies. That will created the largest bass and bream producer worldwide.Selonda SA and Dias Aquaculture SA announced that an agreement has been reached to merge the two companies. That will created the largest bass and bream producer worldwide.
The new company will be named Selonda, aand it will have a combined total turnover of more than 230 million euros, and a 15% share of the global market for Sea Bass and Sea Bream, the most popular Mediterranean fish around the world. Sea Bass and Sea Bream are Greece's number one food export in total value.
The total sales volume of the merged corporation Selonda will be more than 40.000 tons: in other word, that's 35 percent of Greece's total production of Sea Bass and Sea Bream. The total annual volume of exports of fresh Greek Sea Bream and Sea Bass to more than 20 countries will surpass 35.000 tons, or approximately 87% of total sales.
The production facilities of the new company will include 72 sea-cage farms, seven hatcheries, 14 packing stations, two processing plants and two distribution centers. The corporation created by the merger will have 12 subsidiary companies and total personnel of approximately 1,500 employees.
The Board of Directors of the merged corporation will have seven members and the company's executive committee will be made up of John Stephanis - Executive Chairman, Stefanos Manellis - Chief Executive Officer, John Andrianopoulos - Chief Operating Officer, and Thanasis Prachalis - Chief Financial Officer.
"We are creating the leading Greek corporation in the Aquaculture sector The new Selonda will be a leader not only of the Greek Aquaculture industry, but of the entire Mediterranean fish farming sector," said John Stephanis, executive chairman of the new corporation.
"During the more than 20 years that Dias has been operating we have proven that we are always a step ahead and not afraid to take bold company decisions. The merger is the first step in the now mandatory consolidation of the industry," said Stefanos Manellis, CEO of the new corporation.
The merger is subject to the approval of the two boards of directors, the Greek Competition Board, and the Ministries of Development, Infrastructure, Transportation and the General Commerce Committee. ■