Prime Minister Roosevelt Skerrit has announced that operations at Dominica Coconut Product Ltd (DCP) could recommence before the end of 2017.
He said at a town hall meeting in Paix Bouche on Wednesday that a local investor has concluded negotiations with Colgate-Palmolive to take over DCP and the government will be giving the investor a loan of US$2-million to buy the company.
“We will very well see the recommencement of manufacturing activities at DCP before the end of 2017,” he revealed.
In November 2015, the company was forced to shut down operations due to the effects of the passage of Tropical Storm and 94 employees were left without a job.
“As you know, as a result of Tropical Storm Erika, Colgate-Palmolive took a decision to close down DCP, and within a couple days after the decision taken by Colgate Palmolive, I wrote a letter to them, and I said the government of Dominica will buy DCP from you,” he said.
He noted the government had serious intentions to buy the company and recommence manufacturing of soaps but was approached by a businessman in the matter.
“A local business person approached me and said look I am prepared to buy it myself,” Skerrit stated. “And we gave him priority because the truth is, I prefer it to be in the private sector than government owning it.”
Skerrit said the local investor has now concluded the negotiations with Colgate-Palmolive to take over DCP.
“We will be giving that investor in Dominica a loan of US$2-millon to buy Colgate-Palmolive,” he noted. “I met with him yesterday and he said to me from the moment they take over then can recommence the manufacturing of soaps within six months.”
In January, 2017 the government said the funds will be coming from the Citizenship by Investment Program.
DCP was formed in 1965 by Elias Nassief and later taken over by his son, Phillip Nassief. In 1995, DCP was sold to Colgate-Palmolive.
The company was primarily involved in manufacturing and packaging soaps and other detergents, such as laundry detergents, dishwashing detergents, toothpaste gels and tooth powders, natural glycerin, hand soaps, dentifrices, presoaks, toilet soaps, waterless hand soaps, and scouring cleansers. Its products were widely distributed throughout the country in cooperation with its partners and affiliated companies.
If wishes were dead asses, only fools would ride!!!
Well at least give the story some leeway. They did not say $2million was all the investor was going to invest. So let’s hope this investor has millions more to acquire the plan, refurbish property/equipment, supplies, raw products, marketing, employees, distribution channels, etc, etc.
But as is so typical the case, the government makes these empty announcements in hopes of calming an edgy populace and scoring electability points. You all know all the projects that have been promised where they have missed deadlines… not once, but habitually. If you habitually do something, it becomes part of your character and nature. And character can be measured against political rhetoric and posturing at the polls. Take notes Dominicans! Measure this government by its fruits, not by its flattering politricks.
I I me me is a sign of self-interest.This man tries to pack everything that he came for himself and if there is anything left he will give to others in for of charity for ballot.
I am really appalled at the way in this PM can use to public purse to give grants and loans as he chooses while most people in the country continue to suffer. Was this loan open to all Dominicans or is this another case of loans/grants being granted to close friends or political hacks of this PM? This can’t be right! Why didn’t this businessman approach the bank for a loan? If that businessman commenced negotiations with Colgate Palmolive I would think it is because he felt that he would have been able to obtain the necessary financing from a financial institution. These people get in private deals with this PM using public funds and as a result they remain silent when other corrupt acts are exposed. Shameful!
If this country has so much money to be throwing around then why are the roads in Goodwill particularly Rose Street in such a deplorable state? Come on man, for over 10 years cars have to be driving on bumpy roads while money in large quantities is just being handed…
Just an observation since Monfared revelation….The money committed to be spend by the GOVT should be close to $1Billion dollars for a GOVT that said they did not have money.
These promises are questionable and if they can delivered it means this GOVT has keep us in poverty for so long although they had the capacity to access these money all this time.
If is very clear Dominicans are abused and taken advantage of by this GOVT and they must GO!!!!!
If so, i dont see ANY move to start those operations. the place still looks desolate. Major renovations and construction work needs to be done, equipment needs to be replaced, maybe plumbing and electricals need to be redone. I highly doubt that will happen before the end of 2017.
Why didn’t I think of approaching Skerrit for a loan to buy DCP? Heck, if the government is funding the acquisition there is really little risk to the “investor”.
BTW, doesn’t the investor have a name? Any bets that investor us connected to Skerrit or the DLP?
Is Skerrit’s impending retirement from politics have anything to do with the purchase of DCP?
Is he a silent investor in that company?
SKERRITS ALPHABET,,,,,C,B,I….Why is you only “”I”” “”I””, meeting with the investor?Do you have any negotiating skills?
I again thank honourable LENNOX LINTON.,for compelling you and your gang to spend money from the sale of our passport..You are the barrier between Dominica and Development…Thats why SKERRIT MUST GO!! SKERRIT MUST GO!! SKERRIT MUST GO NOW,,,and please take the rest of the gang with you..They are no better than you..
%, how did Lennox compell Skeritt to spend money from the sale of passports? Lennox has been a big opponent of the projects that are funded by the CBI, examples are the west bridge costing 18 million$$, eradication of pit latrines and the NEP program, just to name a few. So in which factory did you manufacture this LIE?
If the wax in your ears(too zoreille)is too thick so you are hearing impaired,go to Skerrit for a little change..Then i reconmend that you visit Dr Pascal,for him to take a shovel and extract the wax for you ears..I have NEVER,EVER heard any UWPite or Freedomite decry the CBI programme as not being good.However they have bee vocal in expressing concern about the reckless and dangerous way that our passports are falling into the hands of criminals.Example Lapseng,Madueke,Monfared..Are you from Morne Daniel?Was Monfared your neighbour?Stuppes!Skerrit Must Go!! Skerrit Must Go!!!Skerrit Must Go Now!!!
If the government is paying for the purchase of DCP by giving someone a loan to purchase DCP, how is this person an investor? Is Mr. Skerret ensuring that he has a major business secured for him and his people before and after leaving office? Or will it be like the promised hotel that started or about to be started in Portsmouth by a local person or persons who are his friends and associates?
The person is an investor. The only difference is that the financing is coming from the government and it is the Government not ROOSEVELT SKERITT. So that investor owes the Government regardless of which party is in power. I will not at this time make any assumptions of inappropriate action as what I have read so far gives no indication of such.
Pull the other one Amos. Roosevelt Skerrit = the Government of Dominica.
first off the Government should have never let such business close down, so many people got hurt cuz of that, but its a positive note that it could reopen. we will see…
We need that coconut oil. The people need jobs. I am not sure it should be opened the same place as Dominica rainfall has increased over the years. As a child i use to like seeing the trucks with coconut line up knowing all villages especially from the north and north east would have a good christmas.
I hope i am not too early with my suggestions but payroll should go high-tech. Put the money on a card because social behavior has changed.
When will something work for real under Skerrit..? Please please let this one come through as Dominicans need jobs. The country needs to earn foreign currency through its own production processes..
And can it be…
And while we’re at it my people, you should also know that government is in negotiations with a reputable company of businessmen to ensure that the abattoir will be fully stocked with poultry and beef and will be able to provide corn beef to other islands to replace the recently banned products before year end. We are negotiating with a businessman for a supermarket to replace the one at Canefield. We are deep in negotiations for the international airport with some businessmen but we have already started negotiations with a patriotic businessman to buy a national airline. We’ve already made a down payment on that commitment. This will be done before the end of the year. The old French bank will resume operations in new offices on King George Street and for the northern district, the old carpet factory in Portsmouth will be reopened to provide more than 2000 jobs. Government is working hard to bring you these developments before the next election. Thank you.
With what CBI money block . This Is Just A POLITICAL Scam Don’t Get FOOLED THE People of Mahaut. Go and do your business. P
Yeah, yeah something is happening and it is so exciting. According to the IMF you don’t even have enough money to continue running the country at the present rate and you want to give someone a loan of $2 million to start making soap again at that place? We don’t have enough copra as it is and I suspect you must also give that person protection by restricting the import of foreign soaps and give him a monopoly? Leave that alone my boy. All they are interested in is buying the assets cheaply. Finish your Moroccan hotel first and we’ll talk again..
fantastic news!!
Just as fantastic as canned air!
Big Colgate-Pamolive couldn’t make DCP work— is 2 little million dollars to a local investor that will bring it back–by year end
Who is the investor? I’ll bet $$$$ that investor has some political ties to DLP