Boston, Mass.-based Nordic Group USA, a division of Nordic Group SA in Norway, continues to grow its salmon, cod and haddock business, thanks to the strong U.S. dollar and attractive Norwegian salmon pricing.
In addition, the company recently hired Frank Bodin, former CEO of The Hadley Company, as vice president. Bodin, who was also vice president at American Seafood and Frionor Asia, brings new foodservice contacts and other benefits to Nordic Group.
SeafoodSource talked with Terje Korsnes, president and CEO of Nordic Group USA, about the supplier’s growth and the benefit of having Bodin on board.
Blank: How will hiring Bodin benefit Nordic Group USA?
Korsnes: Frank is coming on board 1 November, and we are acquiring some business volume with that move. In a mutually-beneficial arrangement with The Hadley Company, Bodin is bringing the foodservice business from Hadley. Foodservice sales at Hadley were minor compared to their sales to industry - they do a lot of business with raw materials for further processing in the United States. This consolidation will benefit both companies, because we have more power behind our foodservice business.
We will now be able to offer Alaska Pollock and more haddock variety, which we currently only carry at the highest end of quality – either frozen at sea or packed in Iceland. The majority of Hadley’s foodservice products is processed in China in a high-quality facility with experienced management. This allows us to offer our customers a wider range of premium products which will complement nicely our strength in Atlantic cod, farm-raised salmon and lakefish. Our customers will be better served with the expanded range of products.
Blank: How is the strong U.S. dollar helping to grow Nordic Group USA’s seafood sales?
Korsnes: The stronger dollar is helping us as importers increase some prices at the dock in the country where product is being produced, which makes us more competitive against European buyers. In some cases, we can lower our costs of purchase as well. We see very stable pricing in groundfish and salmon, and some of the salmon prices have actually adjusted downward. It is more of a seasonal event than a systemic event. We will take it anytime and pass it on to our customers. Lower prices are more attractive and will drive more demand.
Blank: Is seafood demand overall on the rise in the U.S.?
Korsnes: Seafood demand seems strong and what is driving it is nutrition and health. Demand for cod, haddock and salmon are still strong. Norwegian salmon suppliers have been able to address major buyers’ concerns, such as antibiotics, and have come out as a shining example of how it can be done. They have done a better job than other farming nations of addressing that concern, and are getting rewarded for their stewardship.
