By Jenniffer B. Austria

Canned tuna exporter Alliance Tuna International Inc. is increasing its stake in an Indonesian subsidiary.

Alliance Tuna said in a disclosure to the stock exchange that would raise its stake in PT International Alliance Food Indonesia to 80 percent from 70 percent for $100,000.

“An increased shareholding gives Alliance Tuna more control over the subsidiary. The projected high returns from the Indonesia operations will ensure Alliance Tuna’s continued growth and profitability in the future,” the company said.

PT Wailan Pratma (formerly CW Wailan Pratama), which is Alliance Tuna’s joint venture partner in Indonesia, will reduce its stake from 30 percent to 20 percent.

Alliance Tuna said funding for the additional stake would come from internally generated funds.

Alliance Tuna last year formed PT International Alliance Foods Indonesia to handle processed canned tuna in the neighbor country.

It also invested additional capital to expand the cannery in Indonesia to 60 metric tons a day through an additional 20 metric-ton-a-day capacity for frozen tuna loins and other marine products.

Alliance Tuna plans to put up a $1.5-million salmon canning facility in the Philippines by the second quarter of the year. The company is building the facility in joint venture with Prime Foods New Zealand, which was recently acquired by Alliance Tuna.

The salmon canning facility in the Philippines will have capacity of 2 million tons a day, or twice the size of the plant in New Zealand.

Prime Foods has been manufacturing and selling smoked seafood since 1994. Its products include hot smoke, cold smoke and marinated salmon. Prime Foods has grown to be one of the largest retail suppliers of smoked seafood in New Zealand with a market share of 35 percent.

Alliance Tuna, which is mainly into processing, canning and export of canned tuna, exports all products to Europe and North America, which account for more than 84 percent of total export sales.