CHILE: Multiexport aims for 5% of world salmon market

Chilean salmon company Multiexport plans a major expansion during the next 10 years aimed at capturing 5% of worldwide salmon production with sales of US$400m, holding company president Jose Ramon Gutierrez has announced.The company, which is already Chile's top salmon exporter, will have sales of US$110 million this year and produces 2% of the world's salmon. To achieve the new objective it will have to increase production from the 21,000 tons expected this year to 135,000 tons in 2010.Multiexport's expansion plans involve building production facilities in Canada and Norway with third parties and opening sales offices in Japan, Europe and the US, the three main markets for salmon.The company, owned by private investors Alberto del Pedregal, Martin Borda, Hugo Pino, Caros Pucci and Jose Ramon Gutierrez, also plans to enter the stock exchange. "We don't know if it will be in Chile, because the panorama there is negative," Gutierrez said. "We could go to the stock market in Oslo or Amsterdam, which offer the best prospects for salmon producers."By opening new production facilities, Multiexport plans to increase its production 65% this year, from the 13,000 tons produced in 1999 to some 21,000 tons. It will invest US$5m this year.