Labrador Fishermen’s Union Shrimp Company Limited, L’Anse au Loup, Labrador, NL
Over the past 38 years, this private sector firm has emerged as one of Newfoundland and Labrador's most successful fishing companies. The company has restrictions on dividends that retain all profits for development of fisheries related infrastructure and services along the Labrador Coast. The Labrador Fishermen's Union Shrimp Company Limited operates five seafood processing plants, employs approximately 500 plant workers and purchases the catch of some 600 hundred fish harvesters. The Company owns two of the seventeen Northern Shrimp licences and has a 50% interest in the FV Northern Eagle, a 66-meter freezer vessel that harvests the company’s Northern Shrimp and Greenland Halibut quotas. In addition, the company owns and operates 2 middle distance, fixed gear groundfish vessels.
The Company, locally known as Labrador Shrimp Company, is wholly owned by the fish harvesters in the 19 communities extending from L'anse au Clair to Cartwright in Southern Labrador. While LFUSC is not structured as an aboriginal corporation, over 70% of its members self identify as indigenous. The Company’s employment and investment benefits have been and remain critically important to the social and economic well being of the region’s 4,400 residents.