Published: Wednesday October 22, 2008
BICO LIMITED INTENDS to find a long-term solution to fluctuating energy prices so its ice-cream production can remain competitive.
The company is hoping to be able to do this within six months.
At a press briefing yesterday, British High Commissioner Duncan Taylor visited the Bridgetown Harbour plant to get an update on an energy audit being undertaken by two visiting British engineers, Thomas Akomeah and Jonathan McFarlane of Akome Energy Build Limited.
Bico chairman Edwin Thirlwell said the constant rises in the price of oil meant they lost $500 000 that they could not recover because if they raised the price of their ice- cream too much, sales would go down.
He added that they had a freezer packed with three months' supply of ice-cream manufactured when energy costs were higher. They could not reduce the price because fuel costs had just dropped because costlier milk powder and shipping were also factored into the manufacturing price.
Also present were BICO's commercial director, Robert Weekes, and Barbados Investment Development Corporation officials, Beverley Alleyne, senior business development officer, and Samuel Harrison, business development officer. BIDC is sponsoring the engineers through its technical assistance fund.
Thirlwell explained that the company had six plans to help conserve energy and the engineers would do the audit and determine the best way forward.
He said the options were being calculated on US$70 per barrel as the going price for oil.
Natural gas is among the options they are considering by converting one of the generators. He said there was also a solar option.
Source: Nation Newspapers
http://www.nationnews.com/story/308892775015506.php
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment