LTFV forms new joint venture in Honolulu 2007-03-01 Hawaii, U.S.A. -- Luen Thai Fishing Venture (Ltd.) has recently formed a new joint venture company with Norpac Fisheries Export. Having been in business for 20 years, Norpac is Hawaii's leading value added producer of high quality seafood products. Norpac's customer base includes thousands of restaurants and food retailers, hundreds of upscale hotels, food distributors, wholesalers and e-commerce. Their diverse upscale clientele are serviced from Hawaii into all 49 states, and all major Hawaiian Islands.
The experienced staff of over 65 persons includes the most experienced and dedicated seafood professionals in the industry. The synergistic combination of LTFV's access to resources and Norpac's access to high end seafood consumers will add value and strength to both companies. LTFV and Norpac through the joint venture company are looking at increasing not only overall revenue, but diversifying into new markets currently not being served.
This investment of LTFV was strategic, it complements and expands their current business model by diversifying their current fresh product lines to include frozen products and expand into the Food Service. These allow LTFV to provide more products to existing customers and at the same time penetrate into the US mainland market to develop more relationships for greater business opportunities.
