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Bumble Bee canned tuna production volume has fallen in Puerto Rico. (Photo: Bumble Bee Foods/FIS)
Bumble Bee Foods gets ready to sell its local property
(PUERTO RICO, 8/9/2012)
Bumble Bee Foods is trying to sell its Puerto Rico property and equipment after having dismantled its local packing activities earlier this year.
Heritage Global Partners will conduct an auction of the 38.2 million sqm-Mayagüez waterfront industrial real estate and plant equipment, including a 174,000 sqft-enclosed structure, in parts via telephone and online.
The sale of Bumble Bee’s property as well as select pieces of surplus production and facilities support equipment will take place for pre-approved parties on 12-13 September. Bumble Bee will then decide which bids to accept.
Prospective bulk auction bidders are required to wire transfer a USD 250,000 refundable deposit to participate, Caribbean Business reports.
“Our upcoming auction of Bumble Bee’s extensive assets, including prime waterfront real estate, offers an excellent opportunity for companies in food and general manufacturing not only to acquire state-of-the-industry equipment but also to quickly relocate to an existing facility located in Puerto Rico,” said Heritage Global Partners Vice President George Wandachowicz.
Bumble Bee announced in May that it was shutting down its Mayagüez facility because Puerto Rico’s tuna packing industry has been spiraling downward due to intense competition from overseas competitors with lower labour and production costs. The plant had been running since the early 1960s and employed 181 direct employees and 80 temporary ones when it closed on 30 June.
The local factory operations were transferred to another one that the firm runs in California and to several operations by contract.
"Everybody, employees and management executives, have worked hard over the years to increase the plant efficiency, but the reduction in the volume of production has adversely impacted our costs and, unfortunately, we cannot sustain operations in Puerto Rico," said Jan Tharp, senior vice president of operations of Bumble Bee Foods.
In 2011, San Diego-based Bumble Bee slashed 120 jobs at its tuna packing plant and cut its production schedule by one shift.
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