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AIDEA authorizes negotiations for fish processing factory

Posted: Sunday, April 22, 2001

ANCHORAGE (AP) -- The board of the Alaska Industrial Development and Export Authority voted 5-0 Friday to allow its executive director, Bob Poe, to negotiate a final deal with a New York investment firm to buy a controlling interest in the Alaska Seafood International plant.

The firm, Sunrise Capital Partners, is looking to own 51 percent of the stalled South Anchorage fish factory in exchange for a $5 million investment plus a line of operating cash.

ASI, a start-up, value-added seafood processing company occupying a state-owned building near the Anchorage airport, is trying to overcome financing problems and resume production in time for salmon runs this summer.

AIDEA, a state agency, is a one-quarter owner of ASI and has taken the lead in the restructuring effort, which also involves Taiwanese investors.



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