COFIDES' support is provided through a loan financed by the Fund for Investments Abroad (FIEX) and the entity's own resources. The funds are earmarked for investments in the Paraguayan company South Atlantic Company, SA , in which Wofco holds a 40% stake.
The main investment will focus on the construction of a specialized plant for the processing of Patagonian prawns. Located in Hohenau, Paraguay , the facility will have 7.000 m² of built space and a high production capacity. The funding will be used specifically to acquire refrigeration tunnels and essential machinery for the operation.
This project is an integral part of Wofco's vertical integration strategy as a global B2B operator, and its fundamental goals are to reduce logistics and processing costs , as well as shorten delivery times to its customers in key markets.
In the social and employment sphere, the Spanish fishing company's expansion plan includes the creation of more than 200 direct jobs in Paraguay. Notably, the majority of these new positions will be filled by women.
COFIDES has emphasized the strategic importance of the transaction. Miguel Ángel Ladero , Corporate Director of the Investment Department, stated: “COFIDES is committed to Spanish companies with high growth potential. The new plant in Paraguay will allow Wofco to strengthen its presence in Latin America, optimize its logistics processes, and improve its responsiveness in strategic markets .” Wofco, recognized for its strategic position as a global B2B operator in the frozen seafood and fish sector, is thus consolidating its international leadership.
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