May 20, 2016, CAP-PELÉ (GNB) – The provincial and federal governments are making significant investments in Westmorland Fisheries to modernize, improve efficiencies and position the firm as a world leader in lobster processing.
“Supporting established New Brunswick companies to increase exports and competitiveness in global markets is key to creating and retaining jobs here at home,” said Health Minister, Victor Boudreau. “New Brunswick’s fish and seafood products are in demand around the world, and I am pleased that the provincial government can support Westmorland Fisheries as it expands to meet that demand.”
Boudreau spoke on behalf of Agriculture, Aquaculture and Fisheries Minister Rick Doucet, who is also minister responsible for Opportunities NB.
The project involves a significant investment in new technology and equipment to produce new lobster products and to improve productivity and efficiency. The company will adopt new technology to support its automation system, upgrade equipment throughout the facility and carry out significant enhancements to the plant.
Westmorland Fisheries is investing $5.788 million in the processing plant. The provincial government, through Opportunities NB, is contributing $410,000 in support of capital investments and up to $17,500 in support of business development costs. The federal government, through the Atlantic Canada Opportunities Agency’s Business Development Program, is providing a loan of $4.321million towards the project.
“This modernization program represents the largest investment in Westmorland Fisheries’ history,” said Russel Jacob, president of the company. “The expansion, plant enhancements and new equipment will result in a stronger, more efficient and more innovative company, better positioned to capitalize on growing demand for lobster products all around the world.”
Global demand for high-quality seafood products is continuing to grow, and lobster remains Canada’s highest value fish and seafood export product, accounting for $1.5 billion in exports in 2014. Westmorland Fisheries is one of the largest lobster processors in Canada, purchasing lobster from hundreds of harvesters in the region. These investments will help to ensure that the company is a modern and efficient processing facility and to enhance its competitiveness in growth markets.
Opportunities NB is a Crown corporation that seeks to attract and support opportunities to grow the economy and create jobs. It provides support services for businesses across the province.
From left: Health Minister, Victor Boudreau; Russel Jacob, president of the company; and federal Government House Leader Dominic LeBlanc.
Valerie Kilfoil, communications, Opportunities NB, 506-453-8168.