Grieg Seafood's Newfoundland operations will have a new processor this fall to handle its first batch of farmed salmon from its farms in Placentia Bay.

The company announced earlier this month it reached an agreement with Newfoundland and Labrador-based Quinlan Brothers to process the salmon at Quinlan Brothers' facility in Bay de Verde.

Grieg Seafood Newfoundland is investing NOK 300 million ($29 million/€27 million) in the province and Placentia Bay, citing its growth potential.

The company is building the farming region from scratch, and the Newfoundland project includes long-term exclusive farming rights in the Placentia Bay area.