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Outlook 2017: Clearwater Seafoods CEO Ian Smith

M&A will continue, and China's seafood demand for Canadian wild seafood won't slow, exec tells IntraFish.

What a year it's been for Clearwater Seafoods CEO Ian Smith. The executive looks back on an eventful 12 months, and looks forward to another year of growth.

What were the three most significant developments for your business in the seafood industry in 2016?

  1. M&A (increased access to supply via acquisition of Macduff)
  2. Regulatory changes (LIFO reversal) impacting Canada’s shrimp fishery
  3. Understanding and managing through economic implications of unanticipated geopolitical events in key regions (i.e., Brexit and US elections) 

What will be the three most important developments in 2017?

  1. Increased industry consolidation
  2. Continued emergence of China as a leading market for seafood consumption
  3. Leveraging growth following implementation of free trade agreements such as CETA

What changes and developments do you expect your business to undergo next year?​

  1. Sustained growth in all regions, notably Asia
  2. Capacity expansion to support volume growth across the portfolio
  3. Channel development to support global growth objectives in foodservice, processors, retail and ecommerce


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