Clearwater boosts investment in Arctic surf clam fishery
The investment in the clam fishery is all part of Clearwater’s growth strategy
Clearwater Seafoods Inc has made a CAN$5 million investment in its Arctic surf clam fishery as part of its growth strategy.
The investments in Glace Bay, Nova Scotia and Grand Bank, Newfoundland will add new jobs, processing capacity and spur continued sustainable growth of the fishery.
Ian Smith, CEO, 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."
Arctic surf clams are very popular in sushi in Japan, China and South Korea, where they are known as hokkigai or bei gei bei.
These new investments will enable Clearwater to better serve its traditional customer base while expanding distribution to new markets especially in Europe where sushi consumption is growing rapidly.
The investment includes CAN$2 million investment to establish a clam processing capacity at Clearwater's Highland Fisheries facility in Glace Bay, Nova Scotia.
There will also be an investment of CAN$3.6 million made in Clearwater's existing Grand Bank, Newfoundland facility to increase grading and processing, improve infrastructure and expand production.
Back in 2015, Clearwater added the Belle Carnell, a $65 million state-of-the-art vessel to meet global demand for Arctic surf clams, to its fleet. It is also progressing with a $70 million order to replace an aging clam harvesting vessel with another new state-of-the-art factory ship that will deliver additional productivity and efficiency gains to its fleet.
Clearwater is one of the largest vertically integrated seafood companies in North America. It is recognised for its premium wild, eco-certified seafood, including scallops, lobster, clams, coldwater shrimp, langoustines, crab, whelk and groundfish.