It is looking for an equity partner.

The company outlined its position in a Press release yesterday evening in response to the lead story in the WEEKEND NATION which indicated it might soon change hands.

"The company is restructuring, which we believe is in the best interest of our workers, customers and suppliers.

"We wish to assure the public that we will continue to be highly competitive, while offering impeccable service and the highest quality products," the statement said.

It added that the company decided
to expand its business portfolio, appointed a new management team last year and sought advice from consultants Ernst & Young.

This advice was that "a good strategic move would be to find an equity partner".

In pursuing that advice, the release noted, the company had discussions
with several business partners "in and out of Barbados".