6 May 2010

Thai owners of a cannery once based in American Samoa annouce a profit

11:07 am on 6 May 2010

The Thai Union owners of Chicken of the Sea Samoa Packing cannery has announced a 27-percent boost in net profits for the first quarter that's partly attributed to the closure of its local plant.

The American Samoa plant had employed more than 2,000 people before it closed last year in September.

TUF President Thiraphong Chansiri affirmed the firm's net profit reached $25-point-5 million up from $20-point-1 million US last year.

He says attributes the growth to efficient operations and management, plus the ability of overseas subsidiary companies Tri-Union Seafood's and Empress to spawn higher profits.

The restructuring of the management and operation structure, including relocating the facility from American Samoa to a new plant on the US mainland in Georgia, has begun to pay off.

American Samoa's Governor is still in negotiations with the company to purchase leftover equipment and operate a smaller canning operation.