York, Me. & Boston, Ma. — Maine Coast, one of the largest lobster companies in the state, says tariffs on its lobsters headed to China have taken a bite out of sales but the company has strategized on how to make up the lost revenue. CEO Tom Adams said, “There is no question the tariffs have hurt us but our strategy has always been to be nimble and we have aggressively sought out new markets and are making greater inroads in familiar markets. Since the implementation of the retaliatory tariffs in July, we have invested heavily in growth in other regional markets while retaining our engagement with customers in mainland China. We recently wrapped up a trip to Taipei. We have always found that investing one on one with our customers and developing relationships is what continues to grow our business despite the tariffs.”
Seafood Expo North America, the largest seafood exhibition in the USA kicks off on Saturday bringing attendees from all over the world. It is one of the largest events that Maine Coast participates in. The company will hold a reception for customers and partners at the Boston Fish Pier – the newest of its two operations – and the only Lobster wholesale business on the pier.
A few years ago, Maine Coast opened a five thousand square foot facility which can hold up to 30 thousand pounds of live lobster to ensure growth in its international markets. Adams added, “This second facility is smaller than our 150 thousand capacity facility in York but it allows us quick access to major airlines. It’s also advantageous for international buyers who may be in the area for a short time and can come see on a small scale the quality of our operations and products. Maine, however, is our home base for a reason – clean waters, the best product and the best workforce you will find anywhere.”
In addition to tours of the Boston facility, Maine Coast will be on the floor of the Seafood Expo North America at Booth #2132. The event runs from Saturday, March 16 – Tuesday, March 19, 2019. FMI Seafood Expo North America
Maine Coast Boston 212 Northern Avenue Fish Pier Bays 13-15 Boston, Ma 02210
About Maine Coast:
Maine Coast is a global distributor of North Atlantic live lobster headquartered in York, Maine. Our operations in York, Maine and on the Boston Fish Pier provide for rapid- ship delivery worldwide. Maine Coast has state of the art facilities with holding capacity for 180,000 pounds of live lobster, employing 50 people. The company has received numerous awards in the past few years including 2015 US Small Business Administration’s Small Business Exporter of the Year for Maine,2016 Mainebiz Fastest Growing Mid-Sized Company, and 2017 Inc. 5000’s Fastest Growing Private Companies and 2018 Maine International Trade Center’s Exporter of the Year.