The Nunatsiavut Government’s business arm announced Tuesday evening it has taken full ownership of CAI Nunatsiavut Marine Inc.
In a news release, Nunatsiavut Group of Companies (NGC) said it purchased the remaining shares from CAI Investments to gain 100 per cent interest in the ferry service provider. It will now change its name to Nunatsiavut Marine Inc.
CAI Nunatsiavut Marine handles three provincial government contracts for ferry service between the island and several communities in Labrador. It operates the MV Northern Ranger and MV Sir Robert Bond, serving the communities of Lewisporte, Cartwright, Black Tickle, Happy Valley-Goose Bay, Rigolet, Makkovik, Postville, Hopedale, Natuashish and Nain.
NGC board chair Clint Davis said in the news release that company management will not change, with president and CEO Capt. Peter Adams remaining in charge of the Nunatsiavut Marine Inc.