Tri Marine Indefinitely Suspends Tuna Canning in American Samoa; Binotto Out as The Tuna Store CEO
SEAFOODNEWS.COM [SeafoodNews] October 14, 2016
Tri Marine announced that it will indefinitely suspend canning operations at its American Samoa-based subsidiary Samoa Tuna Processors (STP) on December 11 due to adverse business conditions. The company also announced that Don Binotto would step down as CEO of STP and Tri-Marine's US sales division The Tuna Store.
The decision to close the STP facility was mostly due to constant fish shortages that made operating the facility a financial burden. The company said challenging economics of canning tuna in American Samoa combined with external factors facing STP made Tri Marine’s private-label focused business model for operating the plant economically unsustainable in today’s market...
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