BACARDI TO CLOSE BAHAMAS DISTILLERY
Bacardi says it will close its rum distillery in Nassau by April 2009, where light and dark Bacardi rum is produced and then shipped in bulk to Europe. Instead, the company has chosen to consolidate its production site in Puerto Rico and other facilities in the US due to changes in trade agreements and increased competition.
Bacardi established a presence in the Bahamas in 1965 partly to avoid large duties on shipments from Puerto Rico to Europe, but things have since changed.
"The change in business conditions and economies of scale were significant factors in the decision to prepare to cease operations here in Nassau," said Felix Mateo, director of the facility. "It is very difficult to make a decision like this, but it is the right decision for the company."
According to a statement issued by Bacardi, it has not yet decided what to do with the distillery in the future.
Bacardi established a presence in the Bahamas in 1965 partly to avoid large duties on shipments from Puerto Rico to Europe, but things have since changed.
"The change in business conditions and economies of scale were significant factors in the decision to prepare to cease operations here in Nassau," said Felix Mateo, director of the facility. "It is very difficult to make a decision like this, but it is the right decision for the company."
According to a statement issued by Bacardi, it has not yet decided what to do with the distillery in the future.
posted at 7:54 AM
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