Friday, November 6, 2009

Trident reveals Adak interest

Trident Seafoods Corp. is offering $2 million in cash for the assets of Adak Fisheries.

Seattle-based Trident, in a filing yesterday in U.S. Bankruptcy Court in Anchorage, said it would like to reopen the plant on far-flung Adak Island in early 2010.

The plant is known mainly as a cod processor, but Trident indicates it might process pollock there, too.

As we've previously noted here on Deckboss, however, Trident is not alone in pursuing the plant.

An outfit called Adak Seafood purportedly is offering $488,000 in cash plus assumption of $6.7 million in bank debt.

In papers filed this week in the bankruptcy court, Aleut Enterprise, landlord for Adak Fisheries, opposes the sale to Adak Seafood in part because the processor's former owner, Kjetil Solberg, appears to be involved with the prospective buyer.

Aleut Enterprise said it "does not believe that Mr. Solberg or any company in which he is involved can provide adequate assurance of future performance, based on past performance issues."

The whole affair is set for a big hearing in the Anchorage bankruptcy court starting at 9 a.m. Monday.

Deckboss just might amble down there and check it out.

1 comment:

Anonymous said...

well, let's hope that if Trident is going to process pollock there that they can keep their bycatch down. It's more than common knowledge that they are the dirtiest of the dirty when it comes to salmon bycatch.