(Vietnam News) An Giang Fisheries Import Export JSC (AGF) or Agifish, among the country’s leading pangasius fish exporters, has invested $743,589 in setting up a wholly-owned company in the U.S.
The new firm named M&T Seafood Corp. will distribute, export and import, and promote Agifish’s seafood products, foodstuffs and other goods in the American market, the listed company said on its website. This is necessary to establish M&T as importer of record, as H&N is the primary distributor for Agifish and will continue in this role.
The unit, located at 224 Cheris Drive, San Jose city of California, will have an operational lifespan of 20 years.
AGF targets a pretax profit of VND85 billion on revenues of VND2.4 trillion this year, up 10.1% and down 13% on year, respectively.