BICO Undergoing Restructuring Exercise
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Established October 1895 New gender policy on the horizon Page 5 Friday February 20, 2015 $2 VAT Inclusive POTENTIAL FOR MORE EXPORTS THERE are several opportunities for Barbados to boost its exports to China. Pointing out that China has a popula- tion of $1.3 billion, with a significant in- terest in other cultures, Senior Officer with the Barbados Investment Development Corporation Paula Bourne highlighted that while there has been a marked increase in trade between Barbados and China since 2007, there was still significant potential for export growth from the island. She noted for example that products such as rum and sea island cotton could be marketed and sold to the People’s Republic of China as well as music and cultural items. “While we are small and we often think that we do not have a lot to offer, China attaches great importance to economic trade and cultural relations with Barbados and the wider Caribbean. There is significant business potential that can be developed between the two countries and we need to step out and ex- plore,” she stated. Bourne stressed that private sector companies must work with facilitators in order to get samples of their products into Chinese markets. Noting that there were 2.4 million mil- lionaires in China, she pointed out that by gaining the interest of a few of these in products and services of the Caribbean could make a significant difference. In addition, she suggested that in the same way that China had trade agree- ments with various countries across the world, it is time that it also had one in place with Caricom. Bourne was speaking yesterday at the Grande Salle during an educational half- day seminar as part of the Fish and Students of the Alexandra School took in some of the exhibition of places in China. Dragon Festival. (JMB) INSET: BIDC’s Senior Development Officer Paula Bourne wants to see more trade between Barbados and China. BICO undergoing restructuring exercise BICO Limited has undertaken a $1 mil- structuring exercise is in progress in opened it goes directly into an air con- process.” lion capital expenditure project to re- conjunction with staff and their bar- ditioned environment… Of course all “We will continue to restructure as we furbish and improve facilities at its gaining agent the Barbados Workers’ the goods are requiring different tem- go along because although we are seeing Harbour Cold Store. Union, with the aim of producing an ef- peratures. Also we do handle some a bright light at the end of the tunnel, The aim, according to Executive ficient world-class Cold Chain facility things which contain allergens, there- the future remains uncertain. So I think Chairman Edwin Thirlwell, is to achieve for importers and local merchants, for fore we have to have the various rooms you could see that to spend a million HACCP Certification by the end of chilled and frozen products. at various temperatures for the various dollars in updating the Harbour Cold February this year. Thirlwell explained:“As soon as a con- things. We have all new signs which will Store at a time like this is a major ges- Addressing a press conference yester- tainer comes from a ship and is taken to highlight the different allergen rooms ture of confidence in the future,” he said. day, he also revealed that a major re- our facility, the minute the doors are such as for nuts … It is an on-going BICO on page 3 2 • Friday February 20, 2015 The Barbados Advocate New appreciation for Chinese culture THE Fish and Dragon Festival has been giving Barbadians a new ap- preciation for the Chinese culture. Yesterday, several citizens from sixth form and tertiary students to cultural enthusiasts, filled the Grande Salle of the Central Bank for a half-day semi- nar to learn more about the People’s Republic of China and its people, and the educational opportunities avail- able through the government and Embassy of China. Several speakers, including repre- sentatives in the fields of trade and export promotion, education and well- ness, were on hand and shared from their own experiences visiting and liv- ing in China. Throughout the presentations, the audience was shown pictures of both urban and rural China, its traditional and modern architecture and given an insight to daily life in that country. They were also treated to a display of skilled ping pong players; a sport which China has dominated in mod- ern times. Later in the evening, a film screening was also put on. The Fish and Dragon Festival is in celebration of the friendship between Barbados and China as the latter China’s Ambassador to Barbados Wang Ke (left) listens to Governor of the Central Bank, Dr. Delisle Worrell. marks the Chinese New Year. Running from February 19 to 21, a will take place – Herbal Dialogues, a Friendship’ and a gala, both at the reminded that parking will be avail- Visualising China exhibition will run wellness seminar at the Grande Salle; Church Village Green. able at Harrison College and Queen’s daily, while on Saturday three events an all day celebration ‘In the Spirit of Admission is free and the public is Park. (JMB) The Barbados Advocate Friday February 20, 2015 • 3 BICO seeing positive results BICO Limited turned think that is the vital in a positive result for part – we still are striv- the year ending ing to have everything September 30th, 2014. from a dollar to the top According to the end.” Executive Chairman, In order to keep sales Edwin Thirlwell, a 14 per buoyant, the Executive cent increase in ice Chairman noted that as cream sales combined one promotion ends, days with an eight per cent later another begins as decrease in energy costs, to keep their customer improved BICO’s re- base interested, and to stated after tax profit by keep the cash flowing. 82 per cent in the year This impressive per- under review. formance by the ice “From the knowledge cream division was how- we have around the re- ever dampened by re- gion, others are looking sults at Harbour Cold more like a two per cent Store, where a combina- Executive Chairman at BICO Ltd, Edwin Thirlwell. increase. Therefore, 14 tion of lower volumes per cent at a time like through the Port and a this in an economy that slowdown in local com- is not buoyant, is indica- mercial activity resulted Photovoltaic system tive of the effort that we in a 25 per cent decline in have put into maintain- revenues. ing our market share.” Thirlwell further ac- producing savings Thirlwell was at the knowledged that the time sharing BICO’s per- Board of Directors had BICO from Page 1 Chairman added that the formance during a press recommended that no installation and commis- conference held at the dividend be paid for the Thirlwell further ad- sioning last August of a company’s Harbour year under review. mitted that BICO, in the 181 kw photovoltaic sys- Road, Bridgetown head- He explained that past year or two, has lost tem has already produced quarters yesterday. whilst ice cream sales for business because there savings. He said the com- He said that the com- the first two months of were not up to interna- pany expected another pany recognised that the new financial year tional standards on cold meaningful contribution they “had to have some- were already up by six chain. in the current financial thing at every price per cent on the same pe- “I think we are fairly year, particularly at point, to fit every riod last year, revenues confident now that we Harbour Cold Store, pocket”. at Harbour Cold Store would be going after extra which is a heavy energy “We can all say that have fallen by 40 per business because we are consumer, with one mil- the BICO Valu Pak has cent. now a world-class cold lion cubic feet of commer- fit the bill at the bottom “The company will store facility.” cial cold storage available end of the market. What stick to its strategy of de- The Executive 365 days per year. (TL) we found was that people livering value for money who traditionally bought to its loyal customer a 5 litre double delight base, while promoting (top end) now, because aggressively to increase things are tight, would sales and combat compe- B.U.T. President Jo-anne Pooler, General Manager at BICO Ltd. buy a 4 litre Valu Pak. I tition,” he stated. (TL) confirms letter’s receipt BARBADOS Union today to inform them of Teachers’ President, the latest developments. Pedro Shepherd, has con- “The BUT received cor- firmed that the organisa- respondence from the tion has received corre- Personnel Administration spondence from the Division indicating to us Personnel Administration the process that they are Division in the matter of going through at this the appointment of hun- stage and we are satisfied dreds of temporary teach- that the work is being ers. done and to that effect, we However,he pointed out will be meeting with our that while a day late from teachers tomorrow at 4 the February 18 deadline p.m. at our headquarters insisted by the BUT, the to bring them up to date,” letter had not specified he added. how many teachers would Shepherd stated that be appointed or when this the division also high- would happen, but stated lighted its desire to know its progress in seeking to the exact number of those appoint these educators. teachers seeking to be He noted that the BUT made permanent so that would be meeting with this could be done in the the affected teachers shortest possible time.