Source: Solomon Star
Letter to Editor
Recent articles written to the Solomon Star concerning the quality of SOLTAI products needs further input. I present my personal opinions in a positive fashion.
How fast our memories are to forget a few facts.
1. The Japanese involved in this original joint venture left during the "Ethnic Tension" for reasons that need not be mentioned or detailed here. Also the Company at that time always claimed a loss on their Balance Sheet, year after year.
2. The Company was badly in debt (excess of 10 million SID).
3. The Profit and Loss Statement or Revenue Statement for the Business indicated clear measures that needed to be taken to keep the Business viable.
A. A need to increase production efficiently to meet the demand for its products.
B. A need to address its debt.
C. A need to reduce expenses.
D. A restructuring of Management was also a key factor that would allow the business to remain viable, solvent and efficient.
4. The demand for its products was not being met.
Therefore, the Company with the assistance of the Provincial and the National Governments took what to some may seem to be 'drastic' measures and prevented the Business from becoming a great failure or even being sold to other Investors, which would have been a great loss as a major asset of the Province and the Nation as a whole.
Actions taken were:
* The Government wisely wrote -off a debt in excess of $10 million SID from the advice of then Finance Minister Hon. Peter Boyers MP West New Georgia and Vona Vona Lagoon.
* A new Board of Management was formed.
* A New General Manager and other senior Administrators were hired.
* Redundancies were made in certain divisions.
* The Company decided to concentrate on production and leave the actual fishing operation to be carried out by Tri-Marine and NFD.
* Old or obsolete fixed assets were disposed of in whatever manner was necessary.
* Certain areas were re-vamped/upgraded and necessary repairs and maintenance was done where it was needed.
Workers conditions changed and the necessary changes were made from recommendation from the Board with the advice of the General Manager.
Purse Seine nets are now predominately used instead of the former Pole and Line method to meet the demand in the cannery for fish, this method is cost saving - efficient.
A market for Tuna loins opened in Italy and SOLTAI immediately began and continues to provide the frozen Tuna loins; this is generating profits which are being plowed back into the Company to improve the Company as a whole.
Some people seem to be adverse to change, prefer the status-quo and regular "routine". Well welcome to the real world of Commerce and understand that at the end of the day the Company will prove itself.
You must change with the times in the Commercial competitive field or else you are doomed to fail.
In a world recovering from a recession which has affected many people i.e. most of the world, it should be appreciated that jobs at SOLTAI are available and will increase with production (now in excess of 60 metric tonnes per day) which will be reflected in more employment, confirmed positions, promotions, attractive remuneration and job security.
The Western Provincial Government has been condemned for over-spending etc. - the same applies here, in both cases, (SOLTAI & the Western Provincial Executive); the new Management has been handed over a Financially unhealthy Entity and blamed for any actions taken even if they are shown to be improvements "IN THE LONG RUN" Thumbs up to the Western Provincial Executive for its actions.
Careful not to "Kill the goose that lays the golden egg" or you may end-up with some other Country owning and operating SOLTAI or its collapse and then you will depend on 'Diana' or 'Waioka' tin tuna.
Above are excerpts of an opinion given by Mr. Richard Thomas Joyce Noro