Who Owns What
p. 106 · Read in the full issue
The BSIP has a 25 per cent interest in the cannery as part of an agreement made with Taiyo in Nov ember, 1972. The government has the option to buy up to 24 per cent more of the shares.
Taiyo has invested about $1 mil lion. When the factory is fully opera tional it will employ a staff of 150, producing 1,000 cases of 48 227 g (i lb) cans a day. It is expected to be working near peak capacity at the start of 1974. At present it is pro ducing at the rate of 100,000 to 150,000 cases of 48 227 g cans a year.
That amount caters for about one third of the catch. The remainder, frozen, will go to either Japan or American Samoa for canning. Some of the catch may be sold in the BSIP, depending on distribution arrange ments. Overseas marketing will he handled by Tokyo companies. Special arrangements will be made for the Pacific if there is a demand.