Published: Monday April 28, 2008
BANKS HOLDINGS LIMITED (BHL) and partner Banks DIH of Guyana recently commemorated the launch of their flagship products, Banks Beer and Banks Shandy, in the United States market.
During a cocktail reception at the local beverage conglomerate's corporate office in Wildey, St Michael, BHL chief executive officer Richard Cozier told staff and invited guests the project was especially rewarding or him because it took more than "two years from concept to shipment".
According to Cozier, 3 800 cases of Banks Beer were shipped to New York three weeks ago, but those initial numbers represented only the beginning of a huge venture for the brewery.
"Gladly we are now on our way," Cozier said, adding, "these are not huge numbers in themselves, but represent the start of what we expect will turn into a reasonable export business within three years".
Minister of Trade, Industry and Commerce George Hutson congratulated the local manufacturer for its breakthrough into the American market, calling the leading brewery "a Barbadian manufacturing icon" but hoped that their accomplishments could be "replicated by other manufacturers in short order".
"To achieve this goal, it cannot be business as usual for the majority of our domestic manufacturers," Hutson pointed out.
"Manufacturers must appreciate the importance of adapting strategically to the challenges of the global marketplace."
In his address, Minister of Foreign Affairs, Foreign Trade and International Affairs Christopher Sinckler stressed the need for more local businesses to enter the global market in the quest to increase the country's foreign exchange earnings. (JM)