It appears that the Bermuda Government, through its West End Development Corporation, has managed to shut down the Bermuda Cement Company, the sole supplier of bulk cement to the island.
After causing panic in the construction sector, Dr. Brown today announced that Government intends to nationalise the BCC operations:
“Upon buying the company, the government will immediately put a new operator in place to manage the newly purchased facility to ensure there is no interruption in the supply of cement for the country.”
So, Government wishes to force a law abiding and successful company out of business in order to install its own chosen operator instead? You have got to be kidding me.
I assume this may be related to Construction Design & Development, which renamed itself as Island Cement in last week’s Official Gazette. This company, by the way, was incorporated in late 2004 around the same time BCC’s troubles with WEDCo began.
You draw your own conclusions. Mine is that this STINKS and will hurt Bermuda at so many levels, from the individual needing to buy affordable cement to the multinational business needing to explain how such things can happen in “stable” Bermuda.
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