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City of Adak announces the acquisition of assets formerly owned by Adak Seafood, LLC

Adak, Alaska (June 25, 2013) – The City of Adak Alaska announces that it was the successful bidder in the auction conducted by Hilco Industrial for the assets formerly owned by Adak Seafood, LLC, conducted June 18, 2013 at the Hilton Garden Inn located in Anchorage, Alaska.

The City purchased all of the assets for $2.088 million utilizing reserve funds as well as $385,000 from the Adak Community Development Corporation. In bidding, the sole intent of the City was, and remains, to keep the assets in place as a turnkey operation in order to facilitate the expedited reopening of the plant.

The successful operation of the processing facility significantly contributes to the City through a variety of methods including but not limited to a local Raw Seafood Sales Tax, fishery business and landing taxes paid to the State of Alaska, utilization of local services such as fuel and electricity, as well as contributing to the availability and utilization of regular transportation of goods and persons to the island.

The City is currently working with Aleut Enterprise, the owner of the building, to find an operator for the fish plant in time for the next cod “A” season. The City is interested in working with processors that have an interest in operating the plant to the maximum benefit for all parties involved. Operators interested in the local processing plant should concurrently contact the City and Aleut Enterprise.

The City of Adak, Alaska is the municipal government for Adak Island. Incorporated in 2001 as a second-class municipality, the City provides public services and seeks to improve the economy of Adak through participation in the area’s fisheries as well as encourage the development and utilization of the existing infrastructure from the former Naval Air Station.

The Adak Community Development Corporation is a nonprofit corporation, founded in 2005, organized exclusively for charitable, scientific, and/or educational purposes and is dedicated to the promotion and development of fisheries related resources, infrastructure and assets for the benefit of the community of Adak, Alaska through the exercising of rights afforded under 50 CFR Part 680 as the designated community quota entity.

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