The following is a statement from Grieg NL

The Grieg Group and Ocean Choice International (OCI) are very pleased to announce the formal finalization of the ownership agreement constituting the entity known as Grieg NL (Grieg Newfoundland Salmon Ltd). The agreement marries the Grieg Group’s extensive experience in the salmon industry with OCI’s leading expertise in seafood processing and marketing, and marks the continued long-term commitment and cooperation of the two family owned companies to develop the Placentia Bay Aquaculture Project.

The Project represents a significant investment of $250,000,000 into the economy of rural Newfoundland and Labrador. The owners, the management and the staff of Grieg NL look forward to growing and become an integral part of the Placentia Bay community, and to contribute to exciting new business opportunities and numerous long-term all-year job offerings in the region.