Trident to sell whiting processing plant, picks Pacific Seafood as preferred buyer
Trident Seafoods Corporation has entered into the process of selling its Newport, Oregon-based Pacific whiting processing plant, with Pacific Seafood Group named as the preferred buyer, the company announced on 10 April.
The plant, which Trident purchased from Tyson Foods in 1999, served the company well until the rationalization of the whiting fishery in 2011, the company said. Thereafter, the operation was rendered progressively more financially unprofitable for Trident, leading to its current sale. The company believes Pacific, with its existing infrastructure in Newport as well as its expertise in marketing whiting products, “has the best chance of successfully operating the plant.”
“We wanted to do everything possible to make sure that the people who work at the plant have stable employment and our fishermen continue to have good markets for their catches,” said Trident CEO Joe Bundrant in a news release. “Pacific has agreed to offer jobs to all of Trident’s current employees and to purchase whiting from all of our fishermen who want a market with them.”
The terms of the sale include Trident’s plant in Newport, as well as a meal plant located nearby.