Pacific Fishing Company Ltd (PAFCO)

Background

Corporate Statements

Business

The core business of PAFCO is loining of tuna (round fish) for Bumble Bee. The secondary component of PAFCOs operations are canning, fishmeal production, and fish oil extraction by a third party.

Vision

"A competitive producer and growing exporter of tuna products supplying world markets"

Mission

To achieve our vision we will:
  • Become the most efficient service provider of quality products to the tuna industry in the region,
  • Provide a safe and healthy workplace and comply with local & international regulatory standards,
  • Ensure that our activities are environmentally friendly and sustainable,
  • Remain an equal opportunity employer in Ovalau and the Lomaiviti province.

Slogan

"PAFCO tuna, pure and natural source of protein"

Values

  • 1. Accountability and Transparency
  • 2. Integrity and Fairness
  • 3. Customer Focused
  • 4. People Focused
  • 5. Safety and Security Conscious
  • 6. Doing the Right Thing
  • 7. Consideration of all stakeholders

Operations

PAFCO's history began in the mid to late fifties as a joint venture between the Fiji Government and the Japan Ministry of Trade and Commerce, incorporated in 1963 as a private company. The Government of Fiji holds 99.58% of shares with the balance held by private shareholders.

The principal activities of the company are loin processing and fish canning for local and regional markets. The main processing plant is based in Levuka, Ovalau with the executive headquarters located in Suva. PAFCO processes raw tuna into cooked frozen tuna loins and canned products. For shipment, the loins are vacuum-packed/sealed, frozen and palletized.

Strategic Issues

Business Environment/Operations

The ageing equipment, location and high cost of operations continue to be a huge challenge. Lack of raw fish supply during low catch seasons, and aged equipment sometimes causes disruptions to production. Demand for local canned products has remained relatively high and supply has sometimes been inadequate. This will be addressed in the upcoming year.

Economic and Social Challenges

PAFCO as the sole major employer on Ovalau has to ensure that there are enough employment opportunities for the youth to discourage them from leaving the island. This is a vital role and PAFCO has to balance the social and economic impact it has on the livelihoods of the entire Lomaiviti province.

Competition/Market Challenges

Unavailability of raw fish, reduced throughput at the plant due to low demand of loins by the Bumble Bee have at times resulted in the lack of supply of Sun Bell brand products and other products. The cheaper imported canned products have sometimes caused a strain on the market share.

Strategic Objectives

Business Environment/Operations

The planned investments for infrastructure and installation of new plants as well as plant upgrades will assist PAFCO in having lesser down times and at the same time reduce maintenance costs. Increase in production capacity is also another strategic objective being targeted in 2015.

Competition/Market

PAFCO is diversifying its products to be able to compete on all fronts. A "Sales and Marketing" capacity is being considered for establishment. This will ensure that market research and relevant products and marketing strategies are developed and put into practice to ensure that PAFCO products remain the number one choice for all consumers of canned tuna.

Organizational Structure

History

Pacific Fishing Company has been in existence for over 50 years. PAFCO's history began in the mid to late fifties as a joint venture between the Fiji Government and the Japan Ministry of Trade and Commerce, incorporated in 1963 as a private company and continued as such until the Government of Fiji acquired almost full ownership in 1987 from the Japanese company C. Itoh. The Government of Fiji holds 99.58% of shares with the balance held by private shareholders. Currently the company has 1 chairman and 2 directors
The principal activities of the company are loin processing and fish canning for local and overseas markets. The main processing plant is based in Levuka, Ovalau with the executive headquarters located in Suva. PAFCO signed a 7-year tuna loining processing agreement in 2002 with Bumble Bee Foods LLP, following the successful operation of the initial loin processing agreement with Bumble Bee from 1998. The agreement has since been extended twice, with the current extension valid until 2017.

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