Thai Union Group
 |
|
| Public Limited Company | |
| Traded as | : TU |
| Industry | Food |
| Founded | Thailand (March 17, 1977) |
| Headquarters | Samut Sakhon, Thailand |
|
Area served
|
Worldwide |
|
Key people
|
Thiraphong Chansiri (President and CEO) Kraisorn Chansiri (Chairman) Cheng Niruttinanon (Executive Chairman) |
| Products | Seafood (frozen, canned, chilled) |
| Revenue |
 126.9 billion baht (2015) |
|
5.3 billion baht |
|
| Total assets |
 111.5 billion baht |
| Total equity |
48.6 billion baht |
|
Number of employees
|
46,500 (2015) |
| Website | www |
Thai Union Group is a Thailand-based producer of seafood-based food products. It was founded in 1977, and was listed on the Stock Exchange of Thailand (SET) on 22 November 1994.
Thai Union operates worldwide with plant facilities in France, Ghana, Poland, Portugal, Papua New Guinea, the Seychelles, Scotland, Vietnam, Thailand and the United States. Its business includes tuna, shrimp, sardines/mackerel, salmon, pet food, and value-added products (prepared foods).
Thai Union's brand portfolio includes:
In its fiscal year 2015, Thai Union had revenues of 126.9 billion baht, with a net profit of 5.3 billion baht. Total assets amounted to 111.5 billion baht. Total shareholder equity was 48.6 billion baht.
Thai Union's target is to achieve US$8 billion in revenue by 2020. The revenue contribution of its different businesses as of 2015 are:
Thai Union Group has been accused by Greenpeace of being "seriously implicated in horrendous human rights and environmental abuses" and warned shareholders and investors "of the financial risks associated with these destructive and harmful practices." The company faces a number of other legal challenges.
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." 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."
Thai Union was named, but was not a defendant, in a lawsuit brought against Nestle Corporation for violating California laws. Thai Union has been under scrutiny since the July 2015 publication of a New York Times article citing a former slave fisherman stating he had been held captive on a vessel supplying a mother ship that ended up selling to Thai Union's Songkla canning operation.
In a response to the New York Times, Thai Union re-asserted its commitment to the protection of human rights. A spokesperson stated the company worked to prevent "any human trafficking or any human rights violation of any kind" highlighting procedures that are in place, such as routine audits of its canneries and boats in port to ensure against forced and child labor.
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Wikipedia