Offices, hotel among investments
The corporation owns a trailer court near Valdez and 10 percent of a new hotel in Portland, Ore.
SMI International is a subsidiary engaged in government and commercial facility operations in several states and overseas. SMI is expanding into information technology areas with the acquisition of other firms.
TEC Star Inc. is another wholly-owned subsidiary formed to do federal operations and maintenance contracts. The Aleuts also own 40 percent of Akima Corp., a partnership with NANA Regional Corp., which also does federal facility management.
In addition, the Aleuts own 73 percent of Alaska Trust Co., an Anchorage-based firm specializing in trust management services for well-to-do clients, many from other states. In its third year of operation, the company is now profitable, officials said.
The corporation maintains a "Permanent Fund" of investments with an asset value of about $3 million. When the fund reaches $10 million, 50 percent of its earnings will be paid out in dividends to shareholders, according to company officials.