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American Samoa Tuna Processor Announces Indefinite Suspension In December

Submitted by PIR Editor on Thu, 10/13/2016 - 13:44

Tri Marine says operations unsustainable in current market

By Barry Markowitz

PAGO PAGO, American Samoa (The Samoa News, Oct. 15, 2016) – Tri Marine, owner of American Samoa based, Samoa Tuna Processors (STP), has announced today that canning operations will be indefinitely suspended effective December 11, 2016.
 
Renato Curto, CEO of the entire Tri Marine Group said, “This is an incredibly difficult decision and one we make with a great deal of reluctance.  Our hearts go out to STP’s employees, suppliers, service providers, and everyone else who depends on STP’s operations.”
 
An official Tri Marine press release today says, “The challenging economics of canning tuna in American Samoa combined with external factors facing STP make Tri Marine’s private-label focused business model for operating the plant economically unsustainable in today’s market.  Tri Marine is currently evaluating alternatives for the facility including outright sale, preferably to a strategic buyer.” 
 
Tri Marine, a global company, will still continue to meet the needs of its US-based customers through its supply network.
 
Tri Marine's operations include interest in canneries, fishing fleets, and tuna supply companies.  It supplies tuna raw material, cooked tuna loins and shelf stable tuna products to the global tuna market and is a major supplier of tuna to its American Samoa neighbor, Starkist.
 
In the latest development, Tri Marine chief operation officer Joe Hamby met with Gov. Lolo Matalasi Moliga yesterday morning about the company’s plans for STP, says Iulogologo Joseph Pereira.
 
“Mr. Hamby disclosed actions being considered by STP, which include closure of canning operation but maintaining the other facets of its operation,” Iulogologo told Samoa News this morning.
 
Friday’s Samoa News print edition and online will provide continuing coverage of STP employee reaction, American Samoa Government elected and appointed officials comments, and we will seek additional comments from Tri Marine/STP executives, in an attempt to provide a perspective of how the suspension of operations will affect American Samoa and neighboring Samoa’s economy.
 
Just yesterday Samoa's largest private employer, Yazaki EDS Samoa sent shockwaves through that country by announcing it was pulling out next year.

The Samoa News
Copyright © 2016. The Samoa News. All Rights Reserved

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Comments

Submitted by Thomas on Fri, 10/14/2016 - 09:37
With the two biggest employers leaving America Samoa. So does sovereignty . This will open the door to fellow neighbors China or North Korea to invest in America Samoa. Creating jobs and a stronge hold on America Samoa. A perfect strategic position in the Pacific. We already know,that China has already been developing its presence in the South Pacific by donating recreational development and infrastructure.Building of sports facilities and commonly needed infrastructure . At NO COST. Providing the equipment and the labor that is required to build such community needed structures in the South Pacific. Simply by buying positive political gains . To establishing its longer term GOALS. THE PEACEFUL INVASION.. GAINING ACCESS AND VALUABLE REALISTATE. Is this a political move that has larger consequences. Win the heart if a people and you win the presence of a global superpower.. USA and its allies have more to lose then factories. Plus, Where do you find the most athletic humans per population in the world, other then the Pacific or Carabean seas.???

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