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New Player Arrives in Ontario

CANADA - Cold Water Fisheries Inc. (CWF), an aquaculture company based in Ontario, is one of the newest players in the aquaculture game in the Coast of Bays.

Bill Howse is the site manager for the company in the St. Alban's area, reports The Coaster. He said that CWF bought out local company Nova Fish Farms in October 2007 and has been expanding its operation in the area since that time.

"We have two cages in Aaran Cove and 14 in Hardy Cove, which are both about nine km from St. Alban's," Mr. Howse told The Coaster. "By December of this year we will have about 500,000 rainbow trout in our cages."

Murray Schlain is the chief financial officer (CFO) with CWF in Ontario and he said they needed more farms to produce more products for their customers.

"We have grow-out sites in Ontario and Nova Scotia but we needed more farms to produce more product for our customer base. We were buying fish from Nova Fish Farms so we decided to buy the company in 2007," Mr. Schlain said. "The Coast of Bays has the best trout growing conditions in Newfoundland as the water temperatures are suited to the venture. In addition, the environment provides protection against ice and storms."