In a statement issued today, Governor Togiola Tulafono announced that Tri Marine International is negotiating to acquire Chicken of the Sea’s tuna plant in Atu’u.
He says the purchase agreement with Chicken of Sea is conditional on Tri Marine securing a long term ground lease and other agreements with the American Samoa Government.
Mr. Joe Hamby, Group Managing Director of Tri Marine International, said there are many details to finalize but Tri Marine is looking forward to concluding an agreement that allow their company to resume tuna processing operations at the former COS Samoa Packing facility.
Samoa Packing closed last September putting more than 2000 people out of jobs.
Tri Marine has fishing boats based in American Samoa and they are interested in the long term viability of the territory's tuna processing industry.
The company is working to develop a plan to resume fish processing operations using the SamPac plant which is expected to require significant investment before it’s back in production.
Chicken of the Sea Vice President of Special Projects, Mr. John DeBeer, is also on island to assist Tri Marine officials in understanding the current state of the plant and to provide information that Tri Marine needs to develop their operating and development plan.
DeBeer said he was pleased at the progress being made in selling the plant to such a high caliber and well regarded tuna company like Tri Marine.
Tri Marine is aware of the importance of the tuna processing industry to the American Samoan economy and the high level of public interest in the future of the SamPac plant.
Mr. Hamby said Tri Marine is taking great care in doing everything possible to not mislead or otherwise raise expectations beyond the practical limitations of the facility and the business.
He said we are negotiating in good faith with Governor Togiola and with Chicken of the Sea and we are hopeful that we will be able to arrive at a successful conclusion.
He added Tri Marine is not trying to replicate what Chicken of the Sea was doing. That business model was obviously not sustainable,” said Mr. Hamby. “We will need to do something more, something different. All this will take time. We will need Governor Togiola’s blessing and we will need everyone’s patience and support.”
