Arctic Circle Air, which hopes to jumpstart the local agriculture industry by “bridging” Saipan, Tinian, Rota, and Guam, will be holding a stockholders' meeting today, Sept 28, 2012, at 5:30pm, at the company's offices at the Francisco C. Ada/Saipan International Airport.
Located at the old U.S. Census building, the office has an Arctic Circle sign above the door.
All stockholders of record are welcome to attend the meeting to discuss business matters and inspect the newly arrived Britten-Norman BN-2T Islander and facility.
Company president and board chair Tony Pellegrino will preside over the meeting with the introduction of key staff members, including the chief pilot and director of maintenance.
Managers will detail operational plans and business requirements now that the aircraft has arrived.
The company's tentative schedule to start flight operations is on Oct 15, 2012.
The company will start contracting with farmers to provide produce for sales to Guam. Farms will be paid upon the delivery of produce at the company's receiving facility in Lower Base-the old SMI garment factory next to Saipan Ice and Water. Product will be inspected, weighed and farmers paid upon delivery. All products will be exported to Guam.
Arctic Circle Air operates under a dba of Marianas Harvest in developing a brand name for products grown on all the islands. The plane's cargo capacity is 2,500 lbs per flight. Over the next two to four months, Marianas Harvest has the potential of purchasing on a weekly basis 15,000 to 20,000 lbs of fruits and vegetables.
“The airline's success depends on farmers willing to grow and sell more agricultural crops. The CNMI has potential of being Guam's bread basket for fresh agricultural products,” according to a company statement.
Future plans include expansion to fishing and pork product. Marianas Meat Harvest has opened and is the only USDA-approved slaughterhouse in the Western Pacific. Fresh, never frozen pork will be available for sale to Guam and other islands. Marianas Meat Harvest needs more hogs and is asking local ranchers to increase their herds. Arctic Circle Air will handle sales, transportation, and distribution in Guam.
After the presentation, questions and open discussions will be held.
The meeting is open to potential investors. Shares are being sold at $1 per share and is open to all residents of the Northern Mariana Islands. The company already has investors on Rota, Tinian, and Saipan. The company desires to have the community invest in Arctic Circle Air to ensure its success. Contact Pellegrino at tonypell@pticom.com. (Arctic Circle)
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