[January 16, 2015]

FCF, Largest Tuna Supplier in Western Pacific, Signs Agreement to Provide Marine Stewardship Council-certified Tuna

FCF Fishery Company (FCF) announced today its joint investment, Nambawan, and its associated fleet, have signed a memorandum of understanding (MOU) with PNAO/Pacifical as a commitment to maintaining the highest Marine Stewardship Council (MSC (News - Alert)) sustainability standards while trading tuna harvested from Pacific Island Nations (PNA) waters.

Under the agreement, which has been several years in the making, FCF will work with the PNA and Pacifical on criteria for certification and ensuring traceability and reporting from fish harvested to transportation, and processing into its semi-finished and finished products.

"With this MOU, along with other committed vessels in our supply chain platform, FCF will be the largest solution provider of PNAO/MSC tuna from 'Ocean to Table,'" said FCF CEO WH Lee. "This truly is an exciting development-and 2015 has just begun."

FCF has been a leader in multiple projects throughout the PNA region for more than 30 years. The company co-founded Nabawan, a state-of-the-art tuna processing plant located in Papua New Guinea, in 2011, along with TSP and TPJ, major fishing companies of the Philippines. The Nabawan plant, slated to begin operations in September 2015, has the production capacity of up to 200 metric tons of tuna per day, and has an exclusive agreement with FCF to the global market.

The agreement helps effectively market the group's MSC-certified tuna while promoting the long-term sustainability of the PNA region.

"Combining their associated fleet's MSC certification under our PNA/Pacifica program is what sets it up for success," said Commercial Manager of PNA Fisheries Maurice Brownjohn. "This is truly a significant partnership in the spirit of regional development as envisioned by the Ministers of Pacific Island Nations."

Currently, more than 60 FCF-associated fishing vessels are now poised for MSC certification. Over time, this could make way for more than 200,000 metric tons of tuna, effectively meeting the needs of the consumer market for future generations.

The FCF vessels are also registered with International Seafood Sustainability Foundation's (ISSF) Proactive Vessels Registry, which provides validation that tuna purchased by its members are meeting the ISSF sustainable standard.

Spain-based canning company Frinsa del Noroeste CEO Jorge Carregal added, "This is a tangible, sustainability-driven partnership that will provide European consumers with a reliable source of tuna supply that meets the very highest standards. It certainly represents a turning of the tide."

FCF and PNA/Pacifical will be working together over the next several weeks to develop criteria and long-range plans to bring the project to the market, from "Ocean to Table."

About FCF Fishery Co., Ltd. (FCF)

Fong Chun Formosa Fishery Company, Ltd. (FCF) is one of the largest marine products trading companies globally with more than 40 years of experience in the trading and marketing of tuna products. FCF has established more than 30 subsidiaries, fishing bases and shipping agents throughout the world to handle the service needs of its customers. The company works closely with related governing and non-governing organizations to ensure environmental sustainability of marine life products. Learn more about the company's commitment to safety and environmental sustainability at www.fcf.com.tw.

About Pacifical

Pacifical c.v. is a global marketing company of the Parties of the Nauru Agreement (PNA) Countries. It was established in 2011 to promote and actively trade PNA's Marine Stewardship Council-certified, sustainably harvested skipjack tuna to consumers around the world. The eight PNA Countries include: Federated States of Micronesia, Kiribati, Marshall Islands, Nauru, Palau, Papua New Guinea, Solomon Islands, and Tuvalu. Together, they control the world's largest sustainable tuna purse seine fishery, supplying 50 percent of the world's skipjack tuna. More at http://www.pacifical.com.

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