TRIDENT LOSES BID TO PURCHASE FISH PROCESSING FACILITY ON ADAK ISLAND IN ALASKA

In mid-November, in a U.S. Federal Bankruptcy proceeding, Trident Seafoods lost a bid to purchase a Fish Processing Facility on Adak Island in Alaska. Trident was out bid by a competing purchaser, Adak Fisheries, who bid $488,000 plus assumption of $6.7 million dollars in pending bank loans. Trident reportedly offered $2 million but was unwilling to take on the debt as part of their bid. The deal may make it possible for the plant to open as early as January 2010.