Hong Kong businessmen set up shop in Maine

Peter Yee and Steven Yip have moved into the old Wildcat Lobster Pound in Tenants Harbor and plan to start shipping product to Asia in the coming months.

Company spokesman and manager Denny Smith says the operation should be in full swing by June, when a further four to six full-time employees will have to be hired.? And because of the costs of transporting live lobsters and seafood halfway around the world, Smith says the plan is to ship a lot of them. “We’re looking to buy and sell a million pounds of live lobsters a year to be shipped out to overseas Asian markets.”?

Smith says the new company, CY Lobster, has already started looking for local lobstermen willing to sell to them.

“We think we can get the product because if I get 10 lobstermen to each bring in a 1,000 pounds a week, that’s 10,000 pounds a week, and that’s 500,000 pounds a year,” he says. “And then you get a few guys that’ll bring them in from other boats, then you’ll get your million pounds a year.”

Click here to read the full story from the Maine Public Broadcasting Network > 


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