News Release

For immediate release 
July 3, 2003

Ocean Nutrition Canada gears up for Major Expansion

Mulgrave, N.S. – Ocean Nutrition Canada (ONC) is expanding its Mulgrave facility with support from the Cape Breton Growth Fund (CBGF) and Enterprise Cape Breton Corporation (ECBC).

The CBGF is providing a $2 million loan and ECBC is making a $300,000 
non-repayable contribution to assist with the expansion of the fish-oil plant, allowing ONC to double its production capacity. This multi-staged project is expected to create 100 new full-time positions in Mulgrave over the next several years; 20 by the end of 2003. 

“ONC is another fine example of a business that is helping to further diversify the economic base in this region,” said Rodger Cuzner, Member of Parliament for Bras d’Or - Cape Breton, speaking on behalf of Minister Gerry Byrne, Minister of State responsible for the CBGF and ECBC. “The Government of Canada is proud to support a project that will will allow ONC to strengthen its long-term viability, and create employment opportunities in the Strait area.” 

"Ocean Nutrition's project is proof positive that whenever we can come up with a better product, service, or production process, we expand our economy and create jobs," said the MLA for Guysborough - Port Hawkesbury, 
Ron Chisholm, on behalf of economic development minister Cecil Clarke. " Ocean Nutrition-and organizations like it-turn innovative ideas into greater prosperity for communities across this province. We are pleased to continue to provide support."

"Our new expanded omega-3 fish oil plant will have four times our present production and make it the world's largest omega-3 concentrate processing facility.", says Robert Orr, President of Ocean Nutrition Canada. "This will allow us to meet the growing demand for our products and capture a larger share of the market in North America, Europe and Asia."

Ocean Nutrition Canada Limited is a rapidly expanding life-science company built on a foundation of science and proprietary technologies creating “Natural Health from the Sea”. The company currently supplies the world with highest-quality marine-based dietary supplements and functional food ingredients. ONC exports its products throughout Canada, the United States, Europe and Asia. 

The CBGF is a partnership between the Government of Canada and the Province of Nova Scotia and has a mandate to assist in the transition of the Cape Breton economy. 

Enterprise Cape Breton Corporation offers programs in support of economic development initiatives and is responsible for delivering ACOA' s programs on Cape Breton Island and in the Mulgrave area.


FOR ADDITIONAL INFORMATION CONTACT:

Barbara Stead-Coyle
Cape Breton Growth Fund Corporation
Tel: 902-564-7331
Fax: 902-564-7339

Mr. Bill Bartlett 
Controller
Ocean Nutrition Limited
Tel: (902) 457-2366