This article contains promotional content .(May 2024) |
Company type | Public |
---|---|
SET: TU | |
Industry | Food |
Founded | Thailand (17 March 1977 ; 47 years ago) |
Headquarters | , Thailand |
Area served | Worldwide |
Key people | Thiraphong Chansiri (President and CEO) Thiraphong Chansiri (Executive Chairman) |
Products | Seafood (frozen, canned, chilled) |
Revenue | 140 billion baht (2017) |
6 billion baht | |
Total assets | 146.3 billion baht |
Total equity | 48.2 billion baht |
Number of employees | 49,000 (2017) |
Website | www |
Thai Union Group PCL is a Thailand-based producer of seafood based products. It was founded in 1977, [1] and was listed on the Stock Exchange of Thailand (SET) on 22 November 1994. [1]
Thai Union operates worldwide with plant facilities in France, Germany, Ghana, Poland, Portugal, Papua New Guinea, Norway, Seychelles, Scotland, Vietnam, Thailand and the United States. Its business includes tuna, shrimp, sardines, mackerel, salmon, pet food and prepared foods. [2]
Thai Union's brand portfolio includes:
In 2017, the Thai Union had revenues of 140 billion baht, with a net profit of six billion baht. Total assets amounted to 146.3 billion baht. Total shareholder equity was 48.2 billion baht. [1] : 24–25
Thai Union's target is to achieve US$8 billion in revenue by 2020. The revenue contribution of its different businesses as of 2017 are: [3] : 5
The Thai Union was investigated by Greenpeace, which showed a human trafficking report of Tier 3, meaning the company is not completely compliant with the standards. Humans are forced to work at sea for months, and sometimes years at a time. Being out at sea for long periods of time means that they do not have contact with authorities, which is why the company is getting away with their horrible methods. They are going through forced labor, ultimately threatened with abuse, including getting beat with stingray tails, if they do not complete the tasks given to them by the Thai Union. The workers, who do not know any better, are being trafficked with no way of escaping. [19]
Thai Union released a statement in response to the accusations made by Greenpeace in 2015. It reiterated its commitment to human rights and the company's vision of "an industry that respects the oceans and protects marine life, offers safe employment for millions of people around the world, supports the development of coastal communities and continues to provide a safe, affordable and healthy food source for a global population well into the future." [20] Thai Union also noted that it works closely with the International Seafood Sustainability Foundation (ISSF) to "benefit the wider tuna fishing industry" and concluded by calling on Greenpeace to join the "industry debate that is already underway, to work towards achieving our shared objectives." [21]
Thai Union was named, but was not a defendant, in a lawsuit brought against Nestle Corporation for violating California laws. [22] Thai Union has been under scrutiny since the July 2015 publication of a New York Times article citing a former fisher stating he had been held captive on a vessel supplying a mother ship that ended up selling to Thai Union's Songkhla canning operation. [23]
In a response to the New York Times, the Thai Union re-asserted its commitment to the protection of human rights. [24] A spokesperson stated the company worked to prevent "any human trafficking or any human rights violation of any kind" [25] highlighting procedures that are in place, such as routine audits of its canneries and boats in port to ensure against forced and child labor. [26]
In 2015, the Thai Union released new codes of conduct, replacing the company's 2013 code of conduct. The "more stringent" new code of conduct allows for higher levels of "accountability and transparency" and showcased Thai Union's commitment to "earn the trust of customers, consumers and the world by operating with integrity and high ethical standards". [27] The company also claims to have terminated relationships with 17 suppliers as a result of forced labor or human trafficking violations since the start of 2015, and have ended the use of employment brokers to source for workers for its seafood processing plants to stop debt bondage. [25]
In December 2016, the Thai Union and the World Tuna Purse Seine Organization (WTPO) signed a memorandum of understanding (MOU) to establish a framework to ensure fair labor practices. The MOU includes the establishment and implementation of best practices on fair labor standards in operations. [28]
Thailand's seafood industry, and by implication, the Thai Union, was the subject of a year-long study of the Thai shrimp industry commissioned by Nestlé. The report, conducted by Verité on behalf of Vevey-based Nestlé, was released on 23 November 2015. It found "indicators of forced labor, trafficking, and child labor to be present among sea-based and land-based workers." [29]
In a statement issued on 10 December 2015, the Thai Union declared that it will cease working with all shrimp processing subcontractors by the end of 2015. The company said that it would bring all shrimp processing operations in-house to enable full oversight. All processing work will be directly controlled by the Thai Union to ensure that all workers, whether migrants or Thai, have safe, legal employment and are treated fairly and with dignity. Thai Union estimates that subcontractors employ about 1,000 migrant workers. [30] Andy Hall, a British human rights defender and a migrant worker specialist based in Thailand, said that "Thai Union ... must be commended for belatedly moving seafood primary processing in house." [31]
In October 2015 Greenpeace accused Thai Union subsidiary John West (UK) of making a "plainly false" claim that customers can trace its tuna back to the vessel that caught it. John West's website includes a tool that allows customers to enter the can code to "see exactly where your fish came from". [32] The tool does not identify sources of Thai tuna and instead invites customers to email John West. John West said that the problem is a website limitation, and all its tuna is fully traceable. [33] Greenpeace has also ranked John West last in sustainability surveys because 98 percent of its tuna was caught using "fish aggregation devices" [34] that kill other marine wildlife.
Thai Union has committed to the following by 2020: [35]
Specific to its tuna business, Thai Union has committed to the following by 2020: [11]
Thai Union Europe is working with WWF-UK and WWF France between 2014 and 2018 to improve the sustainability of seafood species and work towards Marine Stewardship Council (MSC) certification and Aquaculture Stewardship Council (ASC) certification across the Thai Union Europe supply chain. [36]
In December 2016, Thai Union announced a strategy to ensure 100 percent of its branded tuna is sustainably sourced with a commitment of achieving a minimum of 75 percent by 2020. As part of the new tuna strategy, the Thai Union is investing US$90 million in initiatives that will increase the supply of sustainable tuna. This includes establishing 11 new fishery improvement projects (FIPs) around the world. [37] [38] [39] [40] [41] [42]
In December 2016, eight of the world's largest seafood companies, including the Thai Union, issued a 10-point statement committing to action on ocean stewardship following the first "keystone dialogue" between scientists and business leaders. The companies committed to improving transparency and traceability, and reducing illegal, unreported, and unregulated (IUU) fishing in their supply chains. [43] [44]
In December 2016, Greenpeace reported that the Thai Union subsidiary, Lucky Union Foods Co. Ltd. (LUF), purchased surimi base from Pacific Marine Food Products Co. Ltd., a company which confirmed that it had sourced from "vessels of concern". LUF also supplied shaped surimi to Thai Union Manufacturing Co. Ltd. (TUM) for use in pet foods. [45]
In February 2017, the Thai Union 2015 Sustainability Report earned the number one ranking in Asia for sustainability reporting in the Top 100 Seafood Firms' Transparency Benchmark from Seafood Intelligence, a global news service that reports on the seafood sector and evaluates the industry's sustainability data and transparency levels. [46]
In March 2017, Thai Union and the United States Agency for International Development Oceans and Fisheries Partnership (USAID Oceans) announced a partnership to combat illegal, unreported, and unregulated (IUU) fishing, promote fair and ethical seafood supply chains, and improve the sustainability of fisheries in the Asia-Pacific region. [47]
In June 2017, at a World Economic Forum (WEF) meeting in New York City, the Thai Union committed to the WEF's Tuna 2020 Traceability Declaration. The declaration supports the United Nations (UN) Sustainable Development Goals (SDGs) which were adopted by all 193 heads of state via a UN Resolution in September 2015 at a United Nations summit. [48]
In June 2017, Thai Union Group signed a pledge as part of its membership in the Seafood Business for Ocean Stewardship (SeaBOS), committing to improve operations as well as challenge the rest of the seafood industry to follow, all with the goal of helping the world achieve the United Nations Sustainable Development Goals (SDGs). [49]
In July 2017, Thai Union Group committed to measures that will tackle illegal fishing and overfishing, as well as improve the livelihoods of hundreds of thousands of workers throughout the company's supply chains, in an agreement with Greenpeace. Greenpeace and the Thai Union agreed to meet every six months to assess the company's progress and implementation. [50]
In October 2017, a memorandum of understanding (MoU) was signed between WWF, Thai Union Europe, ACTEMSA S.A., and Industrias Alimenticias Leal Santos LTDA, to launch a Fishery Improvement Project (FIP) for the pole and line skipjack, yellowfin, and bigeye tuna fishery in the south and southeast coastal areas of Brazil. The aim of the FIP is to meet the standards of the Marine Stewardship Council (MSC), which assesses whether a fishery is well-managed and sustainable. [51]
In March 2018, Thai Union Group joined forces with the Global Ghost Gear Initiative (GGGI) in a drive to reduce the growing problem of abandoned, lost, and discarded fishing gear (ALDFG) worldwide. [52]
In December 2014, Thai Union announced it would spend US$1.5 billion to acquire Bumble Bee Foods. That deal was put in jeopardy after the US Department of Justice announced it began an anti-trust investigation into the company's over-pricing and competitive practices. Thai Union abandoned its purchase plans in early December 2015 after US officials objected on the grounds that it would reduce competition. "Consumers are better off without this deal," Bill Baer, assistant attorney general of the US Department of Justice's antitrust division, said...."Our investigation convinced us—and the parties knew or should have known from the get-go — that the market is not functioning competitively today, and further consolidation would only make things worse." [53]
In September 2017, Thai Union was named to the Dow Jones Sustainability Index (DJSI) Emerging Markets for the fourth year in a row. Thai Union's sustainability strategy, SeaChange®, successfully drove the score with industry best-in-class 100th percentile rankings for Climate Strategy, Materiality, Human Capital Development, Health and Nutrition, Water Related Risks, and Policy Influence. [54]
In January 2017, the Thai Union was named to the FTSE4Good Emerging Index by FTSE Russell. The FTSE4Good Emerging Index is an extension of the FTSE4Good Index Series—the latter of which was launched in 2001 to help investors integrate environmental, social and governance (ESG) factors into their investment decisions and as a framework for corporate engagement and stewardship. [55]
A tuna is a saltwater fish that belongs to the tribe Thunnini, a subgrouping of the Scombridae (mackerel) family. The Thunnini comprise 17 species across five genera, the sizes of which vary greatly, ranging from the bullet tuna up to the Atlantic bluefin tuna, which averages 2 m (6.6 ft) and is believed to live up to 50 years.
Bycatch, in the fishing industry, is a fish or other marine species that is caught unintentionally while fishing for specific species or sizes of wildlife. Bycatch is either the wrong species, the wrong sex, or is undersized or juveniles of the target species. The term "bycatch" is also sometimes used for untargeted catch in other forms of animal harvesting or collecting. Non-marine species that are caught but regarded as generally "undesirable" are referred to as rough fish or coarse fish.
Overfishing is the removal of a species of fish from a body of water at a rate greater than that the species can replenish its population naturally, resulting in the species becoming increasingly underpopulated in that area. Overfishing can occur in water bodies of any sizes, such as ponds, wetlands, rivers, lakes or oceans, and can result in resource depletion, reduced biological growth rates and low biomass levels. Sustained overfishing can lead to critical depensation, where the fish population is no longer able to sustain itself. Some forms of overfishing, such as the overfishing of sharks, has led to the upset of entire marine ecosystems. Types of overfishing include growth overfishing, recruitment overfishing, and ecosystem overfishing. Overfishing not only causes negative impacts on biodiversity and ecosystem functioning, but also reduces fish production, which subsequently leads to negative social and economic consequences.
The fishing industry includes any industry or activity that takes, cultures, processes, preserves, stores, transports, markets or sells fish or fish products. It is defined by the Food and Agriculture Organization as including recreational, subsistence and commercial fishing, as well as the related harvesting, processing, and marketing sectors. The commercial activity is aimed at the delivery of fish and other seafood products for human consumption or as input factors in other industrial processes. The livelihood of over 500 million people in developing countries depends directly or indirectly on fisheries and aquaculture.
Chicken of the Sea is a packager and provider of seafood, owned by the Thai Union Group in Samut Sakhon, Thailand. The brand is attached to tuna, salmon, clams, crab, shrimp, mackerel, oysters, kippers and sardines in cans, pouches and cups, as are its sister brands, Genova and Ace of Diamonds.
The Marine Stewardship Council (MSC) is a non-profit organisation which aims to set standards for sustainable fishing. Fisheries that wish to demonstrate they are well-managed and sustainable compared to the MSC's standards are assessed by a team of Conformity Assessment Bodies (CABs).
Gorton's of Gloucester is a subsidiary of Japanese seafood conglomerate Nippon Suisan Kaisha, Ltd., producing fishsticks and other frozen seafood for the retail market in the United States. Gorton's also has a North American food service business which sells to fast-food restaurants such as McDonald's, and an industrial coating ingredients operation. It has been headquartered in Gloucester, Massachusetts, since 1849.
John West Foods is a United Kingdom-based seafood marketing company established in 1857, and currently owned by Thai Union Group of Thailand. The company produces canned salmon and tuna, as well as mackerel, sardine, herring, brisling, anchovies and shellfish.
Sustainable seafood is seafood that is caught or farmed in ways that consider the long-term vitality of harvested species and the well-being of the oceans, as well as the livelihoods of fisheries-dependent communities. It was first promoted through the sustainable seafood movement which began in the 1990s. This operation highlights overfishing and environmentally destructive fishing methods. Through a number of initiatives, the movement has increased awareness and raised concerns over the way our seafood is obtained.
This page is a list of fishing topics.
Friend of the Sea is a project of the World Sustainability Organization for the certification and promotion of seafood from sustainable fisheries and sustainable aquaculture. It is the only certification scheme which, with the same logo, certifies both wild and farmed seafood.
A community-supported fishery (CSF) is an alternative business model for selling fresh, locally sourced seafood. CSF programs, modeled after increasingly popular community-supported agriculture programs, offer members weekly shares of fresh seafood for a pre-paid membership fee. The first CSF program was started in Port Clyde, Maine, in 2007, and similar CSF programs have since been started across the United States and in Europe. Community supported fisheries aim to promote a positive relationship between fishermen, consumers, and the ocean by providing high-quality, locally caught seafood to members. CSF programs began as a method to help marine ecosystems recover from the effects of overfishing while maintaining a thriving fishing community.
Seafood in Australia comes from local and international commercial fisheries, aquaculture and recreational anglers. It is an economically important sector, and along with agriculture and forestry contributed $24,744 million to Australia's GDP in year 2007–2008, out of a total GDP of $1,084,146 million. Commercial fisheries in Commonwealth waters are managed by the Australian Fisheries Management Authority, while commercial and recreational fishing in state waters is managed by various state-level agencies.
International Seafood Sustainability Foundation (ISSF) was formed in 2009 as a global, non-profit partnership among the tuna industry, scientists and World Wide Fund for Nature. The multistakeholder group states its mission is "to undertake science-based initiatives for the long-term conservation and sustainable use of tuna stocks, reducing bycatch and promoting ecosystem health". Regional Fisheries Management Organizations (RFMOs) are primarily responsible for managing the world's tuna stocks—skipjack, yellowfin and albacore tuna, the species most commonly processed for canned and shelf-stable tuna products, but their parliamentary procedures too often allow the short-term economic and political interests of nations to prevent sustainable measures from being adopted. ISSF works to ensure that effective international management practices are in place to maintain the health of all the tuna stocks.
The Nauru Agreement Concerning Cooperation in the Management of Fisheries of Common Interest, or The Nauru Agreement is an Oceania subregional agreement between the Federated States of Micronesia, Kiribati, the Marshall Islands, Nauru, Palau, Papua New Guinea, Solomon Islands and Tuvalu. The eight signatories collectively control 25–30% of the world's tuna supply and approximately 60% of the western and central Pacific tuna supply.
A fish company is a company which specializes in the processing of fish products. Fish that are processed by a fish company include cod, hake, haddock, tuna, herring, mackerel, salmon and pollock.
The following outline is provided as an overview of and topical guide to fisheries:
Transshipment or transhipment at sea is done by transferring goods such as cargo, personnel, and equipment from one ship to another. It is a common practice in global fisheries and typically takes place between smaller fishing vessels and large specialized refrigerated transport vessels, also referred to as “reefers” that onload catch and deliver supplies if necessary.
The fishing industry in Thailand, in accordance with usage by The World Bank, the UN's Food and Agriculture Organization (FAO) and other multinational bodies, refers to and encompasses recreational fishing, aquaculture, and wild fisheries both onshore and offshore.
The Bolton Group is an Italian conglomerate that sells products under more than fifty brands.