Clearwater Seafoods Income Fund wants to increase productivity with new technology to counter the strong Canadian dollar as well as continuing to retire debt in 2010, its CEO said Tuesday.
Even pushing up prices for its seafood like scallops, lobsters and clams won’t eliminate the effects of the high loonie, chairman and CEO Colin MacDonald said from Halifax.
“The way you deal with the stronger Canadian dollar is obviously increase the efficiency of your operation,” said MacDonald, after the company announced a loss of $2.2 million in the fourth quarter of 2009.
“We have new technologies coming on board that will increase productivity and efficiency in our key resources.”
To read the rest of the story, please go to: The Canadian Press