Aleutians king crab deal announced

Posted by The Highliner

Posted: July 27, 2008 - 12:00 am

Looks like we’ve got a significant new processor for western Aleutian Islands brown king crab.

And it’s based in Atka!

Here’s the press release:

FOR IMMEDIATE RELEASE

July 25, 2008

APICDA and Atka Acquire Crab Processor Quota Shares

The Aleutian Pribilof Island Community Development Association (APICDA) announced today that its wholly owned for-profit subsidiary, APICDA Joint Ventures, Inc. (AJV), purchased processor quota shares from UniSea, Inc., Royal Aleutian Seafoods, Inc., and Westward Seafoods. The purchased shares include western Aleutian Islands golden king crab. Through the course of negotiations, APICDA also assisted the Atxam Corporation – the Native village corporation encompassing the community of Atka – in its purchase of additional western Aleutian Islands golden king crab processor quota shares.

The Atxam Corporation and AJV also formed a new company, named the Aleutian Crab Company, L.L.C., which will custom process the crab in Atka. Under the current crab quota for Aleutian Islands golden king crab the acquisition by both entities is in excess of 600,000 pounds. The crab will be processed in Atka, initially on a floating processing vessel, but ultimately shoreside at the local Atka Pride Seafoods facility.

Atka Pride Seafoods is a joint venture owned equally by AJV and the Atka Fishermen’s Association. The company buys and processes halibut and sablefish harvested by local Atka residents. Fully 100% of the workforce at Atka Pride Seafoods are local residents.

“All of this crab should be viewed as an Atka community asset,” said APICDA CEO Larry Cotter. “Long term, this will provide greater opportunity for local residents to participate in these fisheries and greater economic stability for Atka. As a CDQ corporation dedicated to developing stable local economies in our communities, we are proud to be able to bring these assets to Atka.”

Lawrence Prokopeuff, Chairman of the Atxam Board of Directors and the Mayor of Atka, said, “This is a great opportunity for our community and our shareholders. It will open doors for our young people and provide an economic base for their future. In the short term, we expect the quotas to generate over $90,000 per year in fish taxes to our community – and that revenue is desperately needed right now.”

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