August 31, 2006

Canadian firm to invest US$60 million to stock salmon farms in US

Cooke Aquaculture, a Canadian company, announced Tuesday (Aug 29) it would invest US$60 million in stocking salmon in Maine over the next 18 months. 

The company's announcement is a shot in the arm for the local aquaculture industry, which has atrophied in recent years. Cooke Aquaculture already owns several aquaculture facilities in Maine.  

The company also plans to have a processing plant if market conditions allow, Cooke's Aquaculture chief executive officer Glenn Cooke said. The company also has processing plants in other parts of Maine.