Newfoundland company announces plant closures, investments
St. John’s, Nfld. – Ocean Choice International (OCI) has announced several changes to its operations in Newfoundland and Labrador with the aim of ensuring the company stays viable and competitive.
Under the plan, OCI will close its operations in Marystown and Port Union effective immediately, affecting approximately 410 employees. However, next year the company will invest more than $5 million in its fleet, as well as in facilities in Bonavista, Port aux Choix, Triton, St. Lawrence and Fortune.
Rationalization a necessity
“Most of the stakeholders in the fishing industry have recognized the need for rationalization of our sector for many years now,” says Martin Sullivan, OCI president and CEO.
OCI recently presented a proposal to the provincial government with recommendations on the future development of the redfish and flatfish industries. The plan would be a significant part of sustaining the future fishery in Newfoundland and Labrador.
According to the company, if there is a successful conclusion to restructuring of the flatfish industry, it will invest an additional $10 million in a new vessel.