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NLIS 1
March 30, 2001
(Fisheries and Aquaculture)

 

Minister responds to proposed takeover of FPI Board of Directors

Gerry Reid, Minister of Fisheries and Aquaculture, commented today on the proposed takeover of the Fisheries Product International (FPI) Board of Directors. John Risley, president of Clearwater Fine Foods, and other shareholders are expected to attempt to replace the board of directors of FPI at the upcoming shareholders meeting on May 1, 2001.

"This government is deeply concerned about and interested in any issue which impacts Newfoundlanders and Labradorians and the rural communities in our province," said Minister Reid. We are unequivocally committed to the long-term survival of FPI and to ensuring that the assets of the company, including access to fish resources adjacent to Newfoundland and Labrador, are utilized in a manner which ensures maximum benefits for the people of this province."

Minister Reid has asked the Department of Justice to review the legislation governing FPI, and any other legislation which may relate to this issue, so as to determine what protections are provided to ensure for the return of maximum benefits to Newfoundlanders and Labradorians.

"Irrespective of who sits on the FPI Board of Directors, this government will do everything in our power to protect the interests of the people of this province, especially the interests of rural Newfoundlanders and Labradorians whose livelihoods and futures depend upon the fishery," added Reid. "One of the objectives of establishing FPI was to create a company which would strengthen the fishery in Newfoundland and Labrador and position our seafood industry in the global marketplace. My priority is to ensure that this objective is achieved and that FPI continues to be managed in a manner which is most advantageous to these communities who are dependant upon the fishery."

Minister Reid has written Herb Dhaliwal, Minister of Fisheries and Oceans, requesting that the federal government confirm their commitment to the principles of adjacency and to ensure that all current and future FPI quotas are harvested and processed for the long-term benefit of Newfoundland and Labrador. Minister Reid is meeting with Minister Dhaliwal today, and plans to place this issue on the top of the agenda.

Media contact: Elizabeth Matthews, Communications, (709) 729-3733.

2001 03 30                       1:30 p.m.


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