Aug 2008 Financial News

No more cash payments for Carib trucks

Aug 29, 2008

MANAGING Director of the Caribbean Development Company (CDC) Andrew Sabga has said new and innovative measures will soon be introduced to discourage bandits who regularly target the company's delivery trucks.

Speaking to the Express on Wednesday at the signing of collective agreements between CDC, Carib Glass Works and the National Union of Government and Federated Workers at the Carib Hospitality Suite, Carib Compound, Champs Fleurs, Sabga disclosed that the current system of cash on delivery would be replaced with electronic transactions on all trucks coming out of the ANSA McAL Group of Companies.

He pointed out the company has always sustained economic viability by keeping up with the times.

"We are constantly reinventing old products and coming up with new products so that we can keep the products relevant to the times," he said.

Sabga added that with the cost of raw materials being driven up by the price of oil, plus the new European Partnership Agreement, which has modified the old trading regime with the Eurozone, the commercial environment has changed dramatically.

"We are no longer operating in a monopolistic environment. Big shops are gobbling up the little fish among us," he said.

Indicating that the company needed to challenge itself in order to get better, Sabga said employees needed to have the same level of ambition.

"The signing of this agreement is historical and commendable because it shows that we are all in agreement," he said.

Gerry Brooks, group chief operating officer and chairman of the Caribbean Glass Company said the signing of the four different agreements was a testimony to the maturity and cooperative spirit of both parties.

"This is an essential plank in building and developing an environment which is conducive to increased productivity and employee satisfaction," he said.


Source:
Aabida Allaham
Daily Express, Page 18
Friday August 29, 2008

http://www.trinidadexpress.com/index.pl/article_news?id=161369766