SAN PEDRO, Calif., April 30, 2001 (PRIMEZONE) -- Cape Fisheries Holdings, LP announced today that it has successfully completed the acquisition of a fleet of eight tuna fishing vessels from StarKist Seafood Company, a wholly owned subsidiary of HJ Heinz Company.
Kenny Alameda, President of Cape Fisheries, said: "This is a win-win situation. The timing of Heinz' plan to divest itself from the tuna fishing fleet coincided with our efforts to establish a substantial fishing operation in the Western Pacific. This acquisition puts us firmly on the map as an important tuna supplier."
Tri-Marine International, Inc. of San Pedro, California had announced last week the formation of Cape Fisheries Holdings, LP to acquire and operate tuna fishing boats.
"We are thankful to StarKist for this opportunity," said Renato Curto, President of Tri-Marine. "The tuna industry is going through some difficult times right now so it's not going to be easy for Cape Fisheries. However, I am optimistic about the future of the tuna business and have a lot of confidence in Kenny Alameda and the team he is putting together. With Tri-Marine's support, Cape Fisheries is going to be a complete success."
Cape Fisheries intends to continue operation of the fleet in the Western Pacific Ocean under the U.S. flag. This will help preserve the viability of the U.S. participation to the treaty governing fishing access for U.S. flagged vessels in the exclusive economic zones of certain Pacific Island States.
Background on Tri-Marine
Tri-Marine is a premier independent strategic supplier of raw material to the global tuna industry. Its activities include fishing, trading, processing and marketing, primarily of tuna and tuna products. Tri-Marine was formed in Singapore in 1972. Since then the company has grown to be one of the largest tuna trading companies in the world. Its subsidiary companies own or otherwise control processing plants, fishing assets and operations and representative offices located strategically around the world.
In January 2001, the Company sold its interest in Chicken of the Sea to Thai Union International Inc., thus successfully concluding a three-and-a-half year joint venture with Thai Union and with Edmund Gann, a preeminent tuna fishing operator.
Tri-Marine's mission is to be the most reliable and significant supplier of both round (whole and unprocessed) tuna and cooked tuna loins.