November 13, 2012

ECGC reports progress in purchasing Bottlers (St Vincent) Ltd, says PM

Progress is being made in the effort by Eastern Caribbean Group of Companies (ECGC) to purchase Bottlers (St Vincent) Ltd, former producers of Ju-C, which folded last year.{{more}}

“This morning, Mr Davy reported to me from Flour Mill that they are making progress in terms of the purchasing of Ju-C,” Prime Minister Dr Ralph Gonsalves said on We FM’s “Shake-up” on Friday.

“They have some things they are going through, with some assessments, and so on and so forth. Taking a little longer than we would have expected, but that is the nature of business arrangement sometimes,” he further said on the programme, also broadcast on Star FM.

In April 2011, Bottlers sent home over 70 workers “until further notice” and some of the former employers have complained about not receiving severance pay.

Gonsalves disclosed in May that he had instructed one of the Government’s directors on the board of ECGC to support the bid to purchase Bottlers.

The Government owns 20 per cent of ECGC, while Maple Leaf Mills owns 40 per cent and private investors, primarily P.H. Veira and Co. Ltd, own the other 40 per cent.

Gonsalves had earlier blamed the closure of the Bottlers plant on a series of events, including the international financial crisis, local and regional competition, and management and investment decisions. (