Federal National Revenue Minister Keith Ashfield today announced a $1 million provisionally repayable loan for Ocean Choice International to research and incorporate new technology to help maintain the viability of the company's fish processing facility in Marystown.
According to a news release, the money comes from the Community Adjustment Fund (CAF) - an economic stimulus initiative under Canada's Economic Action Plan.
Ocean Choice International will acquire and integrate water jet cutting technology currently utilized in the chicken processing industry to yellowtail processing at their Marystown plant.
This water jet technology is expected to improve yield and productivity in yellowtail and introduce new product categories to market.
"This technology uses camera systems and computer software to collect information including the weight of each fish and the optimal cuts to maximize yield and provide the desired products," said Martin Sullivan, chief executive officer, of Ocean Choice International.
"These changes will ensure the viability of our Marystown operation going forward and allow us to keep pace with the competitive global markets."
Federal loan to allow OCI to introduce water jet cutting equipment at Marystown fish plant
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Published on
June 22, 2010
- Published on July 1, 2010
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Staff ~ The Telegram
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Comments
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- Jack
- - July 2, 2010 at 14:45:19
this sounds very interesting am not one to usually use government money for a privet enterprise but if it works and they pay it back so much the better
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- Jack
- - July 1, 2010 at 21:24:44
this sounds very interesting am not one to usually use government money for a privet enterprise but if it works and they pay it back so much the better
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