Vietnam Minh Phu Seafood sets up a new aquaculture company

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Minh Phu Seafood Joint Stock Corporation (HOSE: MPC) has recently announced the establishment of its new subsidiary. In particular, MPC has spent with its main business line of inland aquaculture and seafood processing. This company is headquartered in Dien Hoa Commune, Kien Luong District, the southern province of Kien Giang. Reportedly, in 2011, total shrimp exports of MPC reached 27,178 tons, or US$334.38 million, rising 17.55% in volume and 35.03% in value compared with 2010. The US is the largest export market of MPC, accounting for 32.97% of its export volume and 36.79% in value. Reportedly, Long Phung Investment Joint Stock Company, which is associated with Mr. Le Van Quang – Chairman and CEO of MPC and Mrs. Chu Thi Binh – Vice Chairman and Deputy General Director of MPC, has subscribed to buy 6 million MPC shares for long-term investment from January 17 to March 17. Before the transaction, Long Phung Investment Joint Stock Company holds 3,158,602 MPC shares, representing a 4.51% stake in MPC.