Clearwater Seafoods steps up investment in Arctic surf clam fishery
Clearwater Seafoods has announced that it will invest over C$5m in its Arctic surf clam fishery to expand its exporting capacity of wild-caught Canadian seafood.
The company will make the new investments in Glace Bay, Nova Scotia and Grand Bank, Newfoundland to add processing capacity and boost continued sustainable growth of the fishery.
Clearwater CEO Ian Smith said: “With this investment, Clearwater will continue to expand the export market for wild-caught Canadian seafood and build on its global leadership in sustainable seafood excellence."
The new investments will allow Clearwater to improve its offerings for traditional customer base.
Besides, they are expected to help the company in expanding distribution to new markets especially in Europe where sushi consumption is growing rapidly.
As part of the investment, Clearwater will spend C$2m to set up clam processing capacity at Clearwater's Highland Fisheries facility in Glace Bay, Nova Scotia.
The investment is expected to result in turning a seasonal crab plant in Cape Breton into a year-round seafood processing operation providing full time, year-round jobs for 36 people.
Clearwater will make an additional $3.6m in its existing Grand Bank, Newfoundland facility to increase grading and processing, improve infrastructure and expand production of additional value-added product formats.
Smith added: "Through investments in these facilities and communities, Clearwater will increase production, create quality employment and new and innovative product formats to drive global growth of Arctic surf clams.”
Currently, Clearwater's surf clam operations contribute over C$70m annually to the Atlantic Canadian economy.
Clearwater is one of North America's largest vertically integrated seafood companies with a eco-certified seafood portfolio that includes scallops, lobster, clams, coldwater shrimp, langoustines, crab, whelk and groundfish.
Image: Clearwater will make an additional $3.6m in its existing Grand Bank, Newfoundland facility. Photo courtesy of CNW Group/Clearwater Seafoods Incorporated.