Polar Seafoods expands and diversifies

Polar Seafoods Ltd. of Corner Brook is adding a new item to its product line while expanding its presence in the U.S. market. "We're producing a new bottled shrimp cocktail," said Martin Sullivan, Vice President of Polar Seafoods Ltd., "which is squarely targeting the American market."

The Atlantic Canada Opportunities Agency is providing a repayable contribution for the installation of a new automated bottling machine in the company's Corner Brook operation. Gerry Byrne, Member of Parliament for Humber-St. Barbe-Baie Verte, today announced the assistance on behalf of Hon. Lawrence MacAulay, Secretary of State , (Veterans' Affairs).

"Exports create jobs and Polar Seafoods is an experienced exporter," said Mr. Byrne, "As a result of this project, Polar Seafoods is employing another 12 people now and should eventually add a total of 20 people in their plant."

"The new equipment is now operating with a single shift of workers," said Mr. Sullivan, "and we hope to add a second shift as soon as we get established in the market."

Polar Seafoods carried out a feasibility study with the Canadian Centre for Fisheries Innovation and Memorial University to determine market costs, the necessary equipment and the plant layout. The study indicated a potential for the company to produce between 75,000 and 200,000 cases of shrimp per year on their processing line. The company is using this information to win a share of the American seafood market.

Polar Seafoods is owned by the Barry Group of companies, which have been distributing through Vita Foods, a Chicago-based distributor, for over 70 years. Vita Foods provides access to a distribution network of 157 centres. Until now, Polar's main export product to Vita has been pickled herring.

ACOA's contribution of $435,000 will help the company in ts plans to diversify. Once the new shrimp cocktail product is established, the company is considering the possibility of introducing other such shrimp and herring value-added products.

"Polar Seafoods is demonstrating its experience and its sense of innovation," said Mr. Byrne. "Encouraging exporters, particularly ones who embrace new products and new technology, is one of the main goals of Canada's Jobs and Growth Strategy."

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