Thursday, September 22, 2016

Prime Minister Holness lauds LASCO for contribution to Jamaica's Economic Growth

Prime Minister of Jamaica, the Most Honourable Andrew Holness has lauded the LASCO Affiliated Companies for their continuous contributions to the growth of the Jamaican economy. Currently ranked fourth in Market Capitalization when combined on the Jamaica Stock Exchange, the LASCO Affiliated Companies has increased its staffing exponentially from approximately 450 in 2014, to over 1,000 currently. And as LASCO Affiliated companies continues product development and moves to increase exports, the facilities have  swelled to over 300 square feet today. The Prime Minister's remarks came at a private luncheon following an extensive tour, led by LASCO's Founder and Executive Chairman, Hon. Lascelles Chin, of the White Marl facilities in St. Catherine on Wednesday, September 14.

"Jamaica is very lucky to have an entrepreneur with the talent and capabilities that Lascelles Chin possesses. The Jamaican Government is very impressed with what you have done, showing great enterprise and industry, but more-so, the vision and ambition behind it.  It is very clear that LASCO has not only invested heavily in equipment and buildings, but also in people," said Prime Minister, the Most Hon. Andrew Holness.

Prime Minister of Jamaica, The Most Hon. Andrew Holness gets a closer look at iCool during a private tour of the LASCO White Marl Facilities on Wednesday, September 14. Sharing the moment are: (from left) Non-Executive Director of LASCO Affiliated Companies, Dr. Eileen Chin; Minister without Portfolio in the Ministry of Economic Growth and Job Creation with responsibility for Land, Environment, Climate Change and Investments, The Hon. Daryl Vaz; and Executive Chairman and Founder of LASCO Affiliated Companies, The Hon. Lascelles Chin.

The tour was organized to showcase to the Jamaican Government the massive expansion project at the LASCO White Marl Facilities which include Manufacturing and the LASCO distribution hub. In addition to large-scale upgrades to warehouse storage and manufacturing capacity, LASCO is also taking giant steps towards expanding its export division.

"When I started out, I told the team we have to go slowly and take our time with export growth. That notion lasted one day as I quickly found the Lascelles Chin dictionary did not have the word slow. In the past four months, we have since realized that LASCO can compete in every CARICOM country," said Paul Shoucair, Business Development Director Local and Export at LASCO Distributors Limited.

Shoucair then gave a scope of the growth LASCO has attained with use of their exploits in the Guyanese Market. "Guyana has since more than tripled the four containers per month it was importing up to a couple months ago. With the addition of other products and we are expecting to grow that number even more in that market alone," Shoucair outlined. "The future looks bright for iCool" he ended.

The tour allowed the Prime Minister to not only view the plant but also get an in-depth understanding of the operations that have lead to increased foreign exchange, employment, local product development for Jamaica and continued nation building through insightful and robust corporate social responsibility programmes.

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