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New equipment company opens

SHAWN CUMBERBATCH, [email protected]

New equipment company opens

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The economy is not firing on all cylinders, but now is not the time for local businesses to retreat from investing.

That’s the position of Barbadian construction firm Innotech Services Limited.

At a time when some local firms are looking to cut back, management told BARBADOS BUSINESS AUTHORITY the company recently opened the first stand-alone outlet for subsidiary Innotech Equipment Inc.

Overall, the group has pumped more than $8 million in capital investment towards starting the new company. They said it was a signal of confidence in Barbados.

Chief executive officer Martin DaSilva said that while Innotech Equipment has been in business since 2012, the new Haggatt Hall, St Michael outlet was opened in December.

“Innotech Services, our construction company, is always looking to renew and update our equipment and it made sense for us to become an agent for other suppliers. That’s primarily the main reason why we started the equipment company, making it easier for us to source and train on equipment that we end up being responsible for.

“We sell and we rent. We also maintain any equipment that we sell,” he explained.

DaSilva said while officials were aware the economy faced difficulties, “we live here, we want to invest in Barbados.

“I don’t think there is a better place to live in the world than Barbados and I will continue to invest in Barbados.”

“We have been very happy with the response we have gotten so far. So much so, that we opened this new location here at Haggatt Hall in December last year. We owned this property for a little while and it’s a prime location here on the ABC Highway,” he added.

While Innotech is known for construction services and now construction equipment, and even though the equipment arm is an agent for some major players in the construction industry, management said diversification of what they offered was a major objective.

“In terms of rental equipment, there is always a need for rentals, not only in construction but for the do-it-yourself home-owner. In terms of construction, a lot of people are interested in renting equipment rather than buying the equipment, which is a bonus for them. We also finance and lease equipment to construction companies and so on,” he said.

Innotech Equipment general manager Martin Deane said there was “a lot of demand” for “skid steer loaders (bobcats), mini excavators, weed whackers, demolition hammers, lawnmowers, plate compactors, and forklifts”.

“In addition to the construction industry and the landscaping, one of the things that we are getting heavily involved in, and we have had a very very good response are things for events.

“So we have put a lot of investment in stuff like light towers and generators  over the last few months and continue to do so,” he said.

Deane said the company, which employs 15 people, saw 2017 as a year of growth “even though the economy is a little tight”. (SC)