Regional Companies Show Interest In Leewind Paints
Friday 20th April, 2018 –There is growing interest from paint manufactures within the region who have indicated a willingness to invest in Leewind Paints, a local company in which government owns majority shares.
The disclosure comes from Investment and Trade Minister, Hon. Asot Michael, during a meeting with the Board of Directors and the staff held at the company’s Coolidge Industrial Park facilities Friday morning.
Michael convened the meeting as part of his meet and greet across the Ministry and agencies under his portfolio to hear from the staff their concerns about the future directions of the financially-strapped company.
The trade minister assured employees of the company that “Lee Wind Paints has not been sold.”
He however confirmed that there have been a number of offers by at least two regional paint companies, which are keen on acquiring interest in the company.
According to Michael no decision about the offers has been made, noting that the Cabinet along with the other shareholders will make the final decision. The Minister stated that while he welcomes foreign investments into Lee Wind Paints, his preference is for the company to remain the majority locally owned.
He said his vision is to get the government to inject much-needed funds into Lee Wind Paints to bring its operations up to a standard that would make everyone proud; to acquire new equipment, raw materials and other critical supplies.
The Trade Minister noted that the Lee Wind Paints is the last remaining manufacturing facility of its kind in the industrial park and he is of the view that step should be taken to ensure not just its survival but its long-term success.
He described Lee Wind Paints as a ‘very important’ entity within his Ministry and he gave the staff a commitment that he will work assiduously to ensure the continued operations and overall health of the company.
He also commended the staff for their hard work and sacrifice made to the company over the years noting that many have upwards of 30 years and more.