An agreement in principle has been reached between Trident Seafoods and the Aleutian Pribilof Island Community Development Corp. for joint ownership of APICDA’s processing facility and fuel company in False Pass, and Cannon Fish Co., in Kent, Wash.
As a multi-site operator in the Aleutian-Pribilof region, Trident will help APICDA maximize the volume of product at Bering Pacific Seafoods, focus on providing year-round employment and contribute greater tax revenue to the city of False Pass, where APICDA also operates the False Pass Fuel Co.
Bering Pacific Seafoods processes salmon harvested from the Southwest and Bristol Bay region. Cannon Fish Co. is a secondary processing facility that takes fish initially processed in Alaska and produced high quality finished product for the retail market.
Trident’s investment in Cannon Fish Co. will allow Cannon to compete better on a global stage with new markets and new products, said Joe Bundrant, chief executive officer of Trident, and Larry Cotter, APICDA’s chief executive officer.
“Trident has a long history of adding value to Alaska’s fishery resources, which has benefited the state’s fishermen and its fishing-dependent communities,” Cotter said. “Trident’s investment offers APICDA the opportunity to focus greater resources to develop needed fishing industry infrastructure in our other Community Development Quota communities of Nelson Lagoon, Atka and St. George as we did in False Pass.”
“APICDA has done a remarkable job improving the opportunities for residents of the communities it represents,” Bundrant said. “Trident is really proud to have been a partner with APICDA in various programs since it was formed in 1992.”
