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Star Kist Bought By Pridco For $4 Million


May 2, 2002
Copyright © 2002 CARIBBEAN BUSINESS. All Rights Reserved.

The Puerto Rico Industrial Development Co. (Pridco) will buy Star Kist Caribe’s closed tuna operation plant in Mayaguez for $4 million, said Economic Development & Commerce Secretary Ramon Cantero Frau.

"Negotiations have been on-going with Philadelphia-based H. J. Heinz Co.’s Star Kist Foods Inc., the tuna plant’s parent company. We have now reached an agreement to buy the plant’s 16 acres at the appraised purchase price of $4 million. This number does not include the buildings or infrastructure," said Cantero.

Star Kist closed its tuna operations on May 15, 2001 citing high labor and transportation costs, plus increasing competition in the tuna industry. The move left approximately 1,300 workers unemployed in the Mayaguez area.

Star Kist’s parking facilities were leased from the Ports Authority and Pridco owned part of the dock and waterfront area. Current tenant Impress Metal Packaging, which supplies Star Kist’s plants in South America and Bumble Bee Tuna with metal cans, will continue to operate from the site.

"We are considering a number of proposals for this property and the agency has already been approached by a ferry operator and other businesses. We will consider economic development proposals that create the largest number of jobs or make the best use of the land," said Cantero Frau.

This Caribbean Business article appears courtesy of Casiano Communications.
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