Aquamar

repaid

Aquamar is a corporation whose line of business has always been that of aquaculture and, originally, that of shrimp farming. In 1998, Aquamar adapted its facilities to farm tilapia in order to export fresh and frozen tilapia to the U.S., quickly becoming a leader in this sector. The market's rapid growth and the technological and space limitations of Aquamar's existing processing plant have made it necessary to build a new processing plant.The new plant, currently under construction near Guayaquil, will make it possible to have more efficient processing operations and to obtain higher value added products, with the resulting increase in earnings. Currently, only 30% of tilapia is used for fillet production, while the remaining 70% is sold to produce fishmeal at a very low margin. The new plant will make it possible to use part of this 70% to make shaped and breaded products (a new product line), which command higher sales margins.