Breaking his silence on the matter for the first time since the hostile takeover bid that upset merger plans between BS&T and Neal & Massy, ANSA McAL's president and chief executive officer of the Barbados operations, David Inglefield, said the acquisition plan formed part of the group's strategy for the Caribbean.

Of BS&T, the Trinidad company's point man in Barbados said: "We would find it very attractive to have that scale and scope added to the group via this acquisition."

In an interview with the MIDWEEK NATION yesterday at his Wildey, St Michael office, Inglefield insisted there was no reason to fear ANSA McAL's dominance in the local market should it gain control of the island's largest conglomerate.

While declining to go into details outside of the offer document that was delivered to shareholders on Monday, Inglefield, however, promised there would be no job-cuts as a result of the takeover.

The ANSA McAL chief executive said it was the intention of company to keep the local "mind and management in place in Barbados".

"We believe strongly in the preservation and value of the BS&T name and identity. That is an icon that we would want to preserve and build as a very valuable part of the Barbados business landscape.

"In other words, we would not remove control of this business to Trinidad. We would want to utilise the expertise and goodwill that BS&T's management and people have in Barbados and keep that in Barbados,"

Touting the ANSA McAL offer as good for the local economy, Inglefield said the deal would boost reserves by US$175 out of the US$250 million generated from the purchase of BS&T's 75 million shares. (GE)