Renato Curto

Chairman of the Board

Renato Curto is the majority shareholder and the Chairman of the Tri Marine Group of companies.

Statement

Tuna is a precious food source of tremendous nutritional value. I was raised in Italy and grew up eating yellowfin packed in olive oil. It was so good right from the can. There was no need to add anything to it.

I am proud that Tri Marine is a major supplier of tuna to the Italian market where tuna is still packed according to a very high standard of quality and presentation. We also supply other markets, important markets like the United States, where canned tuna is more of a commodity.

Tuna should not be a commodity. Population growth will fuel increasing global demand for tuna. Tuna is a limited, but renewable resource. Eventually, demand for tuna will exceed its supply. We therefore need to protect it and conserve it.

I am convinced that macroeconomic principles will increase the value of tuna. With increasing value, many will try to profit from the fishery, even at the risk of depleting the resource and possibly destroying it.

We need to be proactive and encourage our governments to impose fishing vessel capacity limitations and proper management and conservation.

As the value of the resource increases, so will the benefits to coastal states having EEZs where tuna is caught. This is important, especially to those states which depend so heavily on tuna to sustain their economies.

Last but not least, consumers will benefit from this trend toward higher value tuna. They will enjoy a better quality product, maybe even as good as what we have in Italy.

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Renato Curto

Biography

Renato Curto was born and raised in Rome, Italy. He graduated in Economics and Commerce at the University of Rome in 1971.

His involvement with the Tuna Industry started in 1973, when he was hired by a large Italian public conglomerate (EFIM) to represent their interest in a Mexican joint venture company which was formed with the objective of owning and operating a fleet of three tuna purse seine fishing vessels and one stern trawler. In 1976, Star Kist joined the company as minority partner.

In 1979, after arranging for the sale of the Mexican company, Mr. Curto joined Tri Marine, a related company which had been formed in Singapore in 1971 mainly as a tuna trading company and a base for albacore and sashimi long liners. In 1983, Mr. Curto became the managing Director of Tri Marine. In 1986 the Italian holding company decided to divest itself from food related activities and Mr. Curto , together with his three partners and friends, made a successful bid to acquire the Company in a Management Buy Out.

Under the leadership of Renato Curto, Tri Marine's consolidated trading business grew in less than 10 years from about $40 million to over $500 million in annual revenues, and achieved a 15% global tuna market share. In the process, Tri Marine established operating companies and representative offices in 14 countries around the world and integrated the activities of the Group to include fishing operations and processing facilities, especially for the preparation of cooked, cleaned and frozen tuna loins.

The most relevant acquisitions made by the company (mostly in joint venture with selected partners) during the last 10 years, include Pan Pacific Fisheries, Chicken of the Sea, several fishing operations (including the entire Star Kist fleet of 8 large vessels), three tuna processing plants in Latin America (including Seafman, which was Bumble Bee's cannery and operation in Ecuador) and, very recently, one of the largest fishing and processing companies in Peru, a leading and very reputable producer of top grade fish meal and fish oil.

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