Filipino tuna canner Alliance Tuna International announced Monday that it will set up an Indonesian subsidiary to boost export operations and increase this year's profits by 25 percent.
The company said it would incorporate PT International Alliance Foods Indonesia (AFI) to manage the assets bought from PT Karabha Sakti, a tuna cannery in Indonesia.
"The investment in Indonesia ensures steady access to raw material supply and gives Alliance Tuna [access to] the world's most fertile fishing grounds," says company spokesman Rajat Balain.
The subsidiary will begin in August to process canned tuna and export 100 percent of its output to European and North American markets, which represent the bulk of its sales. Once the facility is modernized, it will have a daily processing capacity of 60 metric tons and another 20 metric tons daily for frozen tuna loins and other products.
