The Pescanova group operates in 21 countries with approximately 3,400 employees. The group includes such companies as Argenova S.A., Bajamar Séptima, S.A., Frinova S.A., Pescafresca S.A., Marnova Lda, Pescamar Lda, Pesquerias Belnova SA, Frigodis SA, Krustanord, SA, Pescafina, SA and Novagroup among others.
As of early April 2013, the company is on the verge of filling for bankruptcy due to liquidity problems.
Pescanova was founded in 1960 by José Fernández López, who established the company in Vigo. From its beginnings Pescanova introduced cutting-edge technology for the complete activity of fish processing, best defined by the factory ship which was not common in Spain at the time. The business model worked and allowed a continued growth making it one of the biggest firms in the fishing industry.
With more than 120 fishing boats and 150,000 tons of fish products sold into the global market every year, Pescanova is among the top 5 companies in its sector. Besides the Spanish facilities, the company has production plants in Portugal, Nicaragua, Namibia and Honduras.