Clearwater and Grand Bank Seafoods Celebrate 25 Years of Innovation Leadership with New Investment

Wed, 14 Sep 2016

Photo_Asset_1

GRAND BANK, NL, Sept. 14, 2016 /CNW/ - Grand Bank Seafoods, a division of Clearwater Seafoods, celebrates 25 years as an innovation leader in Canada's clam industry with a new investment in a prime cut line to support growth of the business in Europe and North America.

Grand Bank Seafoods is located in the town of Grand Bank, Newfoundland and Labrador, producing Arctic Surf, Northern Propeller and Cockle Clams. Clearwater acquired Grand Bank Seafoods' Arctic Surf Clam operation in 1991. Since then, Clearwater has invested heavily to develop the marketplace and build a customer base for this wild, sustainably-harvested resource.

"The success of Clearwater's clam business over the past 25 years has laid the foundation for a prosperous future with Grand Bank Seafoods," said Ian Smith, CEO, Clearwater Seafoods. "Grand Bank will continue to play a key role in Clearwater leading and executing with excellence in today's global clam marketplace."

Global success translates into economic benefits for Atlantic Canada

As one of the only year-round seafood processing facilities in Newfoundland and Labrador, Grand Bank Seafoods continues to positively impact the provincial and Atlantic Canadian economy.

Today, Clearwater's clam operation generates:

  • 258 jobs for fishermen on Clearwater's fleet of offshore clam vessels
  • 115 jobs for plant workers from the Grand Bank area
  • $70 million in payroll and direct economic benefits to the region

Clearwater's dedicated and experienced team of employees is key to its success. Today, the Company is honoured to recognize 72 employees for their long service with an awards presentation to commemorate their 25 years of work at the facility.

"Clearwater is a proud long-standing employer in one of Newfoundland's most vibrant and industrious outport communities," said CEO Ian Smith. "The dedicated team at Grand Bank, the crews on our vessels, and the support we continue to receive from the Town of Grand Bank are critical to the success of the clam business."

Investing in innovation

Clearwater has continued to invest in the future growth of Grand Bank Seafoods' clam operation through licensing, research and development, survey work and new state-of-the-art vessels.

Clearwater has become a global leader in today's clam marketplace, particularly in Asia. One of the unique features contributing to the Company's success, especially in the Arctic Surf Clam business, was Clearwater's ability to build markets for this product, where no other markets previously existed. This combined with continued marketing-related initiatives, have been a driving force in growing the clam operation to a $100-million dollar yearly export business.

A bright future

Looking toward the future, innovation will continue to play a key role in harvesting capabilities and clam product development. There is a positive outlook for future growth with continued investment, as the demand for these clam species further increases in high-value sushi and sashimi markets throughout the United States, Europe and Asia. In the last three years Clearwater has invested $2.2 million in the Grand Bank facility and today Clearwater announces a $350,000 investment in a new 25-person prime cut line in Grand Bank which will support growth of the business in Europe and North America.  

"Clearwater's clam business is a model of innovation-led export success," said CEO Ian Smith. "Today's investment allows us to continue to diversify our markets to build the value of the product as we grow consumption of surf clam globally."

About Clearwater
Clearwater is one of the world's largest vertically integrated seafood companies and the largest holder of shellfish licenses and quotas in Canada. It is recognized globally for its superior quality, food safety, diversity of species and reliable worldwide delivery of premium wild, eco-certified seafood, including scallops, lobster, clams, coldwater shrimp, langoustines, crab, whelk and groundfish.

Since its founding in 1976, Clearwater has invested in science, people and technological innovation as well as resource ownership and management to sustain and grow its seafood resource. This commitment has allowed it to remain a leader in the global seafood market and in sustainable seafood excellence.

 

SOURCE Clearwater Seafoods Incorporated

Image with caption: "The demand for Clearwater’s clam species continues to increase in high-value sushi and sashimi markets throughout the US, Europe and Asia. (CNW Group/Clearwater Seafoods Incorporated)". Image available at: http://photos.newswire.ca/images/download/20160914_C8667_PHOTO_EN_771851.jpg