Fimex VN

What Fimex VN does

Fimex VN (Sao Ta Foods Joint Stock Company, HOSE ticker FMC) is a vertically integrated Vietnamese shrimp processor and exporter founded in 1996 and headquartered in Can Tho, with manufacturing and farming operations concentrated in Soc Trang province. The company processes approximately 25,000 tons of finished shrimp products annually across three factories — Nam An (over 12,000 tons/year for Nobashi, breaded, and fried products), Sao Ta (over 7,000 tons/year for sushi-grade and IQF fresh/cooked), and Tin An (over 2,000 tons/year for breaded and fried) — supplemented by 540+ hectares of ASC-certified shrimp farms that supply 30% of raw material needs. Its product portfolio spans five core categories: Nobashi (stretched shrimp), raw shrimp (HLSO, PTO, PD), cooked shrimp, fresh breaded shrimp, and pre-fried shrimp, offered across Vannamei and Black Tiger species in numerous cut and breading variants, plus approximately 1,500 tons/year of processed agricultural products.

The business operates as a B2B export enterprise, selling directly to importers, distributors, and foodservice operators in Japan (the top market), USA, EU, Korea, and Australia under multi-year contracts negotiated through a direct enterprise sales motion. Proprietary technology includes a 16,000-liter microorganism cultivation fermentation system used for pond water quality management, waste processing, and toxic gas handling, alongside ASC and Fair Trade certifications (obtained November 2023) that unlock premium EU and sustainability-conscious channels. Marketing is conducted through international seafood exhibitions (Boston Seafood Expo), in-person partnership visits to key markets, the VASEP industry association, and a bilingual corporate website.

FMC is publicly listed on the Ho Chi Minh Stock Exchange, with PAN GROUP as largest shareholder providing strategic direction and C.P. Vietnam (Charoen Pokphand Foods subsidiary) as a strategic farming partner since 2022 supplying seed stock, feed, and biological products. The company employs over 5,500 people, targets approximately 6,500 by 2030 alongside a revenue target of $420-480 million USD, and operates under the structural overhang of recurring US anti-dumping administrative reviews, most recently producing a preliminary 10.76% duty rate in POR20 (May 2026).

Name

Fimex VN

Legal name

SAO TA FOODS JOINT STOCK COMPANY

Website

https://fimexvn.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Fimex VN (Sao Ta Foods) is a vertically integrated Vietnamese shrimp processor and exporter that produces Nobashi, breaded, cooked, and IQF shrimp products from 540+ hectares of ASC-certified farms and three processing factories, selling B2B to foodservice and retail distributors across Japan, USA, EU, Korea, and Australia.

Ownership category

akta.pro rank

Product category

Processed Shrimp Exports

NAICS

Seafood Product Preparation and Packaging (311710)

SIC

Prepared Fresh Or Frozen Fish & Seafoods (2092)

akta.pro primary industry

Shellfish Value-Added Products (Shucked Oysters, Mussels, Clams; Cooked/Marinated) (AFANALAK)

akta.pro secondary industries

Crustacean Farming (e.g., shrimp, prawns, crab) (AFAEAAAC), Ready-to-Eat Seafood (Cooked Shrimp, Crab, Lobster, Surimi) (AFANALAC)

Keywords

• Frozen shrimp exports
• Shrimp aquaculture processing
• Value-added seafood
• ASC-certified shrimp farming
• B2B seafood manufacturing

Headquarters

HQ city

Soc Trang

HQ country

Vietnam

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Shrimp Processing and Export: Core business: processing and exporting frozen shrimp products including Nobashi, fresh, cooked, breaded, and pre-fried shrimp. Annual processed shrimp volume approximately 25,000 tons. Main export markets: Japan, USA, Europe, Korea, Australia.
2. Agricultural/Processed Vegetable Products: Processing of frozen agricultural products, approximately 1,500 tons annually
3. Shrimp Farming Operations: Self-operated shrimp farms over 540 hectares producing 10,000-15,000 tons of commercial shrimp annually, supplying 30% of raw material needs and reducing final product costs

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Fimex VN processes and exports frozen and value-added shrimp products (Nobashi, raw, cooked, breaded, pre-fried Vannamei and Black Tiger shrimp) from its own ASC-certified farms and three processing factories in Vietnam, selling directly to international distributors, foodservice operators and industrial buyers in Japan, USA, Europe, Korea and Australia.

Product overview

Fimex VN (Sao Ta Foods Joint Stock Company) is a seafood processing and export company specializing in processed shrimp products. The company operates a platform of three processing factories and two large-scale shrimp farming areas. Its core product portfolio centers on five main product categories: Nobashi (stretched shrimp), Raw shrimp, Cooked shrimp, Fresh breaded shrimp, and Pre-fried breaded shrimp. Within these categories, the company offers extensive sub-varieties including Vannamei and black tiger shrimp in various cuts (PD, PDTO, PTO, butterfly) and preparations (tempura, coconut-breaded, fritter). The company also processes agricultural products alongside shrimp. Main export markets include Japan, USA, EU, Korea, and Australia.

Differentiator

Problem solved

Functional benefit

Products and services

• Nobashi Shrimp (Tôm ép duỗi)

Quantifiable outcome

• Shrimp processing output increased 22% year-over-year to 25,833 tons in 2024
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• C.P. Vietnam (Charoen Pokphand Foods)coreStrategic or Co-development PartnerC.P. Vietnam is FMC's strategic partner for shrimp farming operations. C.P. Vietnam supplies high-quality shrimp seed stock, feed, and biological products for shrimp cultivation, supporting FMC's integrated farm-to-export model. The partnership began in 2022 when C.P. Vietnam joined as FMC's new strategic companion. C.P. Vietnam is a subsidiary of Charoen Pokphand Group, one of the largest agribusiness conglomerates in the world.
• Khang An Fisheries Co., Ltd. (KAF)coreStrategic or Co-development PartnerKAF is a subsidiary of FMC engaged in shrimp processing and aquaculture. KAF operates the Tam An factory specialized in processed/co-pack products with new product capabilities. KAF also received recognition as a leading enterprise in Soc Trang province. Operations of KAF are consolidated into FMC's financial reports.
• ASC (Aquaculture Stewardship Council)coreTechnology or IntegrationASC certification for responsible aquaculture. FMC operates the largest ASC-certified shrimp farm in Vietnam, enabling access to premium markets in EU and other sustainability-conscious markets.
• Fairtrade InternationalcoreTechnology or IntegrationFair Trade certification obtained in November 2023. Supports FMC's commitment to fair, transparent, and sustainable international trade practices.
• Japanese Partner CompaniescoreChannel Partner/ Reseller/ DistributorFMC's largest market with key distribution partners in Japan. FMC conducts annual partnership visits to Japan to exchange market intelligence, negotiate contracts, and develop new products aligned with Japanese market requirements. Japan accounts for FMC's highest order volume and revenue share.
• Vietnam Association of Seafood Exporters and Producers (VASEP)minorOthersIndustry association providing market intelligence, regulatory guidance, and advocacy for the Vietnamese seafood industry. FMC participates actively in VASEP's Shrimp Committee activities including anti-dumping and countervailing duty defense efforts.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Vinh Hoan Corporation: Vietnamese seafood processor listed on HOSE (VHC), primarily pangasius but with growing shrimp operations. Comparable on B2B seafood export model, ASC certification, and EU/US market focus.
• Minh Phu Seafood Corporation: Vietnam's largest shrimp processor and exporter, also publicly listed (HOSE: MPC). Directly competes with FMC in value-added shrimp exports to Japan, US, and EU — most relevant direct comparator for FMC's product mix and customer base.
• STAPIMEX (Soc Trang Seafood Joint Stock Company): Vietnamese shrimp processor and exporter based in Soc Trang — same province as FMC's farming operations. Direct regional competitor in processed shrimp exports to Japan and US markets.

Broad incumbents

• Clearwater Seafoods: Canadian seafood processor and brand owner (now under Premium Brands) with global shellfish and value-added seafood lines. Comparable on B2B processed-seafood distribution and premium retail positioning.
• High Liner Foods: North American value-added frozen seafood leader (publicly listed). Comparable on deep-processed (breaded, coated, pre-cooked) seafood products supplied to retail and foodservice customers — directly mirrors FMC's Nobashi and breaded shrimp portfolio.
• Charoen Pokphand Foods (CPF): Thailand-based global agribusiness and aquaculture major. Notably, CP Vietnam is FMC's strategic partner for shrimp seed, feed, and biological products, so the relationship is both an alliance and a competitive reference point for integrated aquaculture-to-export models.
• Thai Union Group: Thailand-based global seafood giant (owner of Chicken of the Sea, Bumble Bee). Operates a much broader frozen and value-added seafood portfolio but overlaps with FMC in deep-processed shrimp for retail and foodservice customers in US, EU, and Japan.
• Nissui (Nippon Suisan Kaisha): Major Japanese seafood conglomerate with global aquaculture and processing operations. Highly relevant as a Japanese incumbent customer/competitor for processed shrimp imported into Japan — FMC's largest market.
• Maruha Nichiro: Japan's largest seafood company and a major buyer of Vietnamese shrimp. Functions as both a potential customer and a benchmark for value-added seafood processing scale and Japanese market distribution.

Regional players

• Hai Viet Corporation (HVG): Vietnamese seafood processor focused on value-added pangasius and shrimp products for export. Comparable on B2B export model and ASC-certified operations, with similar geographic customer mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutu.be/GpbWxKWRETM
• Facebookfacebook.com/fimexvn
• LinkedInlinkedin.com/company/sao-ta-foods-joint-stock-company

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fimex VN