Marine Harvest, an international aquaculture producer, has begun the process of establishing operations in Newfoundland and Labrador. The company has invested $15 million in purchasing the assets of the Gray Aqua Group of Companies in Atlantic Canada, including seven farming licenses in the province and the Hermitage processing plant.
The Marine Harvest investment also includes 17 site applications throughout the province.
Other assets acquired include one hatchery and two farming licenses in New Brunswick. The transaction will be finalized upon approval by the Court of Queen's Bench of New Brunswick.
The company has announced it will soon detail plans to produce between 15,000 and 20,000 tonnes of product on the east coast of Canada every year.
Marine Harvest employs 11,700 people and is represented in 24 countries. The company provides farmed salmon and processed seafood to more than 70 markets worldwide. In 2015, Marine Harvest produced 420,000 tonnes of salmon.