The Newfoundland and Labrador Minister of Fisheries, Forestry and Agriculture cleared Quin-Sea Fisheries and Clearwater Seafoods's application to transfer the processing license for St. Anthony Seafoods Limited Partnership plant in St. Anthony, Newfoundland.
The move will clear the two companies' way to form a new joint venture to take over St. Anthony Seafoods, which was first announced in January.
Under the terms of the joint venture Quin-Sea, as the majority partner, will assume management responsibility for the plant.
Clearwater says a long history of successful joint ventures means it should have no problem fitting in with Quin-Sea, which is part of Royal Greenland on this project.
