Royal DSM invests in Canada fish oil production
Ocean Nutrition owners Royal DSM have announced plans to invest heavily in fish oil production by ex…Ocean Nutrition owners Royal DSM have announced plans to invest heavily in fish oil production by expanding their operations into Nova Scotia, Canada.
Royal DSM, which acquired Ocean Nutrition for $540 million earlier this year, revealed the plans as part of a restructure of its North America business. The firm will begin operations in Dartmouth and Mulgrave in “multi-million dollar” investment programme in Nova Scotia.
Ocean Nutrition said that it will increase its 200-strong workforce in Nova Scotia and recruit new staff in a variety of technology, manufacturing and R&D roles. However, several roles in Nova Scotia will transfer to New Jersey, resulting in some job losses.
“At the end of all of our investments and transition, that number will increase by 10% to 20%," said Rick Greubel, DSM's president of human nutrition and health.
"When we made the acquisition it was based on a growth premise. What we found here was a tremendous team of people that are really passionate. They've built a great business and they are going to help us take it global."
DSM will reveal further details of its investment programme in Nova Scotia early next year.
