Province buys quota to keep plant going

High Liner Foods is turning over its fish plant in Arnold's Cove to Icewater Seafoods, a new company owned by Bruce Wareham, who has managed the plant for 35 years.

Along with the plant, Icewater also is taking over a fishing vessel associated with the Arnold's Cove operation.

The provincial government is putting $3.5 million into the deal to buy High Liner's fish quotas and the seven vessel licences connected to the plant.

The 3,676 tonnes of groundfish quotas include allocations of cod off the south coast, haddock, turbot and halibut.

Fisheries Minister Trevor Taylor says the government will lease the quotas and licences back to Icewater for use in Arnold's Cove.

From Jan. 22, 2004: Manager seeks to buy High Liner fish plant

Wareham says he expects the plant to continue operating for years. He hopes it will return to being a year-round operation.

It was cut to 30 weeks a year from approximately 45 when High Liner announced it wanted to sell the plant and get out of the fish harvesting and processing business.

The plant employs approximately 400 people. As part of the deal, they're taking a wage cut of 35 cents an hour. Union representative Greg Pretty says they were willing to be paid less to keep their jobs.

High Liner says it's getting a "nominal cash consideration" for the plant, and Icewater has agreed to continue to supply the company with fish products.