Young's Seafood is considering plans to close its Pinneys seafood plant in Annan by the end of the year, with the loss of 450 jobs,
However, the company hopes to create 200 jobs in Grimsby and a further 50 at its scampi factory in Annan.
Pinneys supplies seafood, such as salmon and smoked salmon, to supermarkets including Marks and Spencer.
A major player in the Scottish seafood sector for more than three decades, the company changed hands several times before Young's Seafood snapped it up.
In a statement, Young's Seafood said production at its Pinneys site was 'no longer financially sustainable'.