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competitor in the market place and allows our customers – restaurants, food retailers and club stores – to distinguish their product offerings as well. Recently we received Canadian Living’s Best New Product in the Frozen Fish Category award for the third consecutive year. In 2011, sales from new products launched in the previous 24 months exceeded $41.3 million or 12.3% of total sales in Canada, and $57.7 million or 14.6% of total sales in the U.S. 

Launched in late 2010 in the U.S. food service market, sales of FPI’s FireRoasters  exceeded expectations within the first 12 months. In 2012, the line will be rolled out into clubs and retail markets in the U.S. and the food service market in Canada, and as Flame Savours under the High Liner brand in Canada. This ability to move innovations across borders and across distribution channels will accelerate our ability to out-innovate our competitors and capture even more market share. 

oil that was guaranteed to be below 0.75% transfats. To address consumer concerns over sodium content in processed foods and Health Canada’s sodium reduction strategy, we reformulated 17 Canadian retail and food service products to reduce the sodium content. 

## Procurement 

With the Icelandic USA acquisition, High Liner became the largest buyer of cod and haddock in the world. This acquisition also brought new suppliers from Iceland and Norway into our network. We now procure approximately 30 species from approximately 100 select suppliers in 30 countries, and we are regularly seeking and developing relationships with new suppliers who can expand the breadth and quality of our products. This geographic diversity of supply helps manage fluctuations in the cost of raw materials while our scale gives us control over the pricing on some species. It also gives considerable influence over global seafood harvesting practices through our own purchasing policies to purchase seafood only from companies committed 

to sustainability. Our procurement network combined with our ability to innovate and our compelling market share gives us the platform to establish a leadership position in key species for the North American market. 

## Logistics 

Our logistics group provides a best-in- class supply chain capable of meeting the demands of our suppliers and customers for seamless ordering, invoicing, integrated information systems, vendor managed inventory, on-time delivery and order fill precision. Our ability to deliver is exceptional. Our case fill and order fill rates, the ultimate measure of our ability to meet customer expectations, regularly exceed the market benchmark of 98.5%. We have a truck delivering seafood to almost every major customer in North America every week. This provides us with the opportunity to add additional products to shipments at reduced costs. 

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