Globe and Mail business writer and Codfathers author Gordon Pitts writes a piece on Lunenberg, NS-based High Liner Foods and how the seafood producer has weathered the storm of fluctuating US currency rates.

Despite the rising Canadian loonie or the economic crisis, High Liner is posting some of their best financial results in their 110 year history. President & CEO Henry Demone shares some interesting ways High Liner survives and flourishes. In general, their business model is based on being flexible, building innovation, and being shrewd. Take the US currency rate, for example:

In addition to natural hedges, High Liner is an active currency hedger for its Canadian markets; these days, those hedges cost money. In any given month, High Liner might have “a few hundred thousand dollars of hedges that are under water because the Canadian dollar is strong,” Mr. Demone says...“This is a small price to pay for protection in a volatile world.”

Gordon Pitts is the author of The Codfathers: Lessons from the Atlantic Business Elite and a guest panelist at ECC's 2008 Atlantic Business Summit.