Conditionally Repayable Atlantic Fisheries Fund Loan for Icewater Seafoods Improves Ice Management System at North America’s Only World Class North Atlantic Cod Production Facility
St. John’s, NL
Today, as part of a multi-project Atlantic Fisheries Fund Announcement, the Honourable Jonathan Wilkinson, Minister of Fisheries, Oceans and the Canadian Coast Guard, announced a multi-million-dollar investment in a world class Ice Management System at Icewater Seafoods in Arnold’s Cove, NL. The total investment for the project is $4,454,000. Icewater will contribute 25% or $1,224,350, and the Atlantic Fisheries Fund will contribute the remaining 75%, or $3,229,650, in the form of a conditionally repayable loan.
This state-of-the-art Ice Management System is phase two of a multi-million-dollar, multi-year investment program for Icewater Seafoods. It allows Icewater Seafoods to maintain its position as one of the few world class producers of North Atlantic cod in the world.
“One of the most important things in our business is that fish remains as cold as possible from the moment its caught until it reaches our customers. We monitor temperature of the fish daily at every stage of the production process. Similarly, when our customers visit the plant from around the world, they come with temperature probes,” explained Alberto Wareham, President and CEO of Icewater Seafoods. This investment will equip Icewater with the latest technology in Ice Management, meaning more, colder and better-quality ice throughout the plant year-round, while also being able to freeze our products faster and more energy efficient. It signals to our premium European customers that Icewater Seafoods, and Canada, are committed to producing the highest quality cod they demand.”
Wareham attributes Icewater’s position as the only year-round fish processing operation in North America focused on North Atlantic cod production to their relentless focus and commitment to quality.
“The support of the Atlantic Fisheries Fund speaks to Minister Wilkinson, Premier Ball, Minister Byrne and our own MP Churence Rogers and his colleagues’ understanding of what it means to continue to be leading edge, to be competitive and relevant in world markets. They know what it means to Arnold’s Cove, to Newfoundland and Labrador and to Canada. Without them, without their support, we wouldn’t be delivering quality seafood from Newfoundland and Labrador to premium world markets. On behalf of everyone at Icewater Seafoods, I sincerely thank them for their support of our operations and our people,” Wareham added.
Despite the ups and downs in cod stocks, Icewater Seafoods has a long-term view. Wareham is optimistic about the future of the fishery and committed to the people of Icewater Seafoods continuing to be an integral part of that future.