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Lasco breaks ground on J$2.1 billion factory
By Julian Richardson
Friday, January 20, 2012
Lasco Manufacturing on Wednesday officially broke ground for a state-of-the-art factory on 25 acres of land in White Marl, St Catherine.
The $2.1 billion development is expected to create 250 jobs and feature a modern and highly efficient processing plant.
Prime Minister Portia Simpson Miller (centre) and Lasco Group chairman Lascelles Chin (second left) lead the symbolic shovel of the soil at the official groundbreaking ceremony of Lasco Manufacturing on Wednesday in White Marl, St Catherine. They are joined by (from left) Lasco Distributors managing director Peter Chin; Minister of Industry, Investment and Commerce Anthony Hylton; and Lasco Manufacturing managing director Dr Eileen Chin.
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"We have the objective of increasing productivity, efficiency and reducing importation needs. But more importantly, we have the objective of continuing to serve Jamaica and our beloved Jamaicans," said Lasco Manufacturing managing director Dr Eileen Chin at the groundbreaking ceremony.
In addition to modern and energy efficient machinery, she said the new facility will house a state-of-the-art laboratory.
"This will allow our research and development team to access the technology necessary to strengthen the ability to create innovative products," she added.
According to Lasco Group chairman Lascelles Chin, construction of the building is expected to be completed by April for production to start between June and July 2012. The construction is being conducted by Tankweld Construction, engineering by AdeB Consultants and architectural works by Clifton Yap Architects.
"This is a very ambitious timeline... If we achieve this, the Chinese will have no advantage over us when it comes to erecting buildings," he quipped.
The Lasco chairman noted that the expansion project, which he said has been part of the company's vision for almost two decades, will allow the group's manufacturing arm to grow at an "unprecedented" level.
"It will mean a more efficient means of manufacturing our products and an increase in outputs that will put more of our locally made products out in the markets in Jamaica and the rest of the world than ever before at competitive prices," said the chairman, adding "It will mean a streamlining of production that will translate to increased sales and profits, and will be a stepping-stone for the continued growth of our manufacturing company."
Lasco has made a commitment that the products made as a result of the investment will be sold at least 15 per cent lower than existing prices. Lasco Distributors -- which, along with Lasco Manufacturing and Lasco Financial, make up the key segments of the group -- will distribute all the products locally.
Keynote speaker at the ceremony, Prime Minister Portia Simpson Miller lauded Lasco for having a business model which she said has been predicated upon the principles of good corporate citizenship.
"It focuses on the needs of the Jamaican population for affordable prices," Simpson Miller said, adding "It addresses the common-sense notion of investing in the people and giving back to society. Beyond those, it is creating jobs, it is export-oriented and it expresses confidence in the Jamaican economy."
The Prime Minister urged other private sector companies to follow Lasco's example and also called on them to help reduce the nation's unemployment by hiring at least one unemployed Jamaican.
"Today I am throwing out one simple challenge to all our business leaders. I am asking you to put at least one qualified Jamaican, who is unemployed be put back into productive enterprise," Simpson Miller urged.
She added: "Let us call it "Jamaica Employ" and let us advance this partnership for our national development. We could immediately reduce unemployment by 40,000 over the short term."
Minister of Industry, Investment and Commerce Anthony Hylton also made an address at the ceremony, commending Lasco for the initiative and pledging to work closely with representatives of the manufacturing sector to provide an environment that is supportive of increased and sustained production.
Read more: http://www.jamaicaobserver.com/busin...#ixzz1k6FCcs9P
By Julian Richardson
Friday, January 20, 2012
Lasco Manufacturing on Wednesday officially broke ground for a state-of-the-art factory on 25 acres of land in White Marl, St Catherine.
The $2.1 billion development is expected to create 250 jobs and feature a modern and highly efficient processing plant.
Prime Minister Portia Simpson Miller (centre) and Lasco Group chairman Lascelles Chin (second left) lead the symbolic shovel of the soil at the official groundbreaking ceremony of Lasco Manufacturing on Wednesday in White Marl, St Catherine. They are joined by (from left) Lasco Distributors managing director Peter Chin; Minister of Industry, Investment and Commerce Anthony Hylton; and Lasco Manufacturing managing director Dr Eileen Chin.
1/1
"We have the objective of increasing productivity, efficiency and reducing importation needs. But more importantly, we have the objective of continuing to serve Jamaica and our beloved Jamaicans," said Lasco Manufacturing managing director Dr Eileen Chin at the groundbreaking ceremony.
In addition to modern and energy efficient machinery, she said the new facility will house a state-of-the-art laboratory.
"This will allow our research and development team to access the technology necessary to strengthen the ability to create innovative products," she added.
According to Lasco Group chairman Lascelles Chin, construction of the building is expected to be completed by April for production to start between June and July 2012. The construction is being conducted by Tankweld Construction, engineering by AdeB Consultants and architectural works by Clifton Yap Architects.
"This is a very ambitious timeline... If we achieve this, the Chinese will have no advantage over us when it comes to erecting buildings," he quipped.
The Lasco chairman noted that the expansion project, which he said has been part of the company's vision for almost two decades, will allow the group's manufacturing arm to grow at an "unprecedented" level.
"It will mean a more efficient means of manufacturing our products and an increase in outputs that will put more of our locally made products out in the markets in Jamaica and the rest of the world than ever before at competitive prices," said the chairman, adding "It will mean a streamlining of production that will translate to increased sales and profits, and will be a stepping-stone for the continued growth of our manufacturing company."
Lasco has made a commitment that the products made as a result of the investment will be sold at least 15 per cent lower than existing prices. Lasco Distributors -- which, along with Lasco Manufacturing and Lasco Financial, make up the key segments of the group -- will distribute all the products locally.
Keynote speaker at the ceremony, Prime Minister Portia Simpson Miller lauded Lasco for having a business model which she said has been predicated upon the principles of good corporate citizenship.
"It focuses on the needs of the Jamaican population for affordable prices," Simpson Miller said, adding "It addresses the common-sense notion of investing in the people and giving back to society. Beyond those, it is creating jobs, it is export-oriented and it expresses confidence in the Jamaican economy."
The Prime Minister urged other private sector companies to follow Lasco's example and also called on them to help reduce the nation's unemployment by hiring at least one unemployed Jamaican.
"Today I am throwing out one simple challenge to all our business leaders. I am asking you to put at least one qualified Jamaican, who is unemployed be put back into productive enterprise," Simpson Miller urged.
She added: "Let us call it "Jamaica Employ" and let us advance this partnership for our national development. We could immediately reduce unemployment by 40,000 over the short term."
Minister of Industry, Investment and Commerce Anthony Hylton also made an address at the ceremony, commending Lasco for the initiative and pledging to work closely with representatives of the manufacturing sector to provide an environment that is supportive of increased and sustained production.
Read more: http://www.jamaicaobserver.com/busin...#ixzz1k6FCcs9P
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