The Bering Straits Native Corporation finalized their purchase of Alaska Industrial Hardware Inc. this week.
The corporation’s CEO Laura Edmondson said the purchase was an opportunity to diversify revenue.
Edmondson: “They weren’t officially listed as selling the business but they were looking at the opportunities given the previous owner, Josef Boehm, had passed away in August and since that time they were looking for opportunities to sell the corporation.”
Edmondson said no changes are expected at local levels.
Edmondson: “In fact our goal is to allow AIH to continue to operate in the way that they have all of these years which has made them extremely successful. We think a lot of their success is due to the employees, to the training program they have, to the commitment that the employees have to the company, and our goal is to really minimize any impact of this acquisition to allow them to continue to operate in that manner.”
There are no immediate plans to add additional AIH stores; Edmondson said the corporation will look at future opportunities to use the line of business to support BSNC’s government contracting.
She said after working with AIH management since last October, BSNC is excited to have AIH in the corporation’s family of businesses. She added that AIH is pleased it can remain Alaskan owned.
The cost of the purchase has not been made public.
