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Bristol Bay Native Corporation and Choggiung Ltd. announce groundbreaking partnership

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FOR IMMEDIATE RELEASE
June 26, 2018

CONTACT
Carmell Engebretson, Bristol Bay Native Corporation, Communications Manager
907-278-3602 or cengebretson@bbnc.net
Cameron Poindexter, Choggiung Ltd., President and Chief Executive Officer
907-843-2688 or cameron@choggiung.com

Bristol Bay Native Corporation and Choggiung Ltd. announce groundbreaking partnership 

Bristol Bay Native Corporation (BBNC), an Alaska Native regional corporation, and Choggiung Ltd. (Choggiung), the village corporation based in Dillingham, AK, are excited to announce a groundbreaking partnership, where Choggiung has acquired a majority ownership of the Bristol Alliance of Companies (Bristol companies), a group of Anchorage-based construction, environmental, and professional services companies formed by BBNC in 1994. BBNC will retain a minority interest in the Bristol companies.

The Small Business Administration (SBA) approved the change in ownership on June 20, 2018 and the sale is scheduled to closed on July 31, 2018. Both BBNC and Choggiung commend the SBA for its assistance and guidance through the development of our new partnership—a first of its kind.

“We are thrilled to see Bristol Bay village corporations like Choggiung gaining ground in the federal contracting arena,” said Jason Metrokin, BBNC President and Chief Executive Officer. “We are confident the Bristol Alliance of Companies have a bright future ahead under Choggiung’s leadership. BBNC looks forward to continuing our work to identify unique economic development opportunities in Bristol Bay.”

In 2014, with directive from BBNC’s Board of Directors to find innovative ways to invest in Bristol Bay, BBNC launched its In-Region Government Contracting Initiative (IGC). The program offers Bristol Bay village corporations’ federal contracting mentorship, training, and joint venture opportunities, with the goal to build a knowledge baseline and develop best practices to position a village corporation for growth and success in the SBA 8(a) program. Choggiung is a participant in BBNC’s IGC program.

“This historic partnership demonstrates the potential value the In-Region Government Contracting Initiative can bring to Bristol Bay village corporations,” said Metrokin. “Choggiung has worked hard to get to this point, and BBNC hopes to continue to find more opportunities with village corporations across Bristol Bay through the IGC program.”

“On behalf of our Board and staff, I’d like to welcome the Bristol companies to the Choggiung family. This acquisition presents an extraordinary opportunity for Choggiung to grow its capabilities and build its financial strength,” said Cameron Poindexter, Choggiung Ltd. President and Chief Executive Officer. “I want to commend our board for its courageous and visionary leadership that brought us to this point. We are excited for this partnership with BBNC and the opportunities it opens for the future of our village corporation and shareholders.”

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About BBNC: Bristol Bay Native Corporation is a responsible Alaska Native investment corporation dedicated to the mission of “Enriching Our Native Way of Life.” Established through the Alaska Native Claims Settlement Act of 1971, BBNC works to protect the land in Bristol Bay, celebrate the legacy of its people, and enhance the lives of its shareholders. Learn more at www.bbnc.net.

About Choggiung Limited: Choggiung Limited is a village corporation formed under the Alaska Native Claims Settlement Act. Based in Dillingham, AK, Choggiung is the largest village corporation in the Bristol Bay region with approximately 2,100 shareholders. Learn more at www.choggiung.com.

About Bristol Alliance of Companies: The Bristol Alliance of Companies provide a range of services, including engineering; civil and vertical construction; environmental remediation; fuel systems; range and unexploded ordnance response services; electrical and telecommunications services; and demolition and site preparation services throughout the U.S., its territories and select international locations. Learn more at www.bristol-companies.com.