NASSAU, BAHAMAS — A Freeport-based concrete manufacturer said yesterday that it has been forced to shut down two divisions within the company as negotiations with the Grand Bahama Development Company (DEVCO) have fallen through.
Gold Rock in a notice to employees and customers yesterday said that it had been notified of extremely limited access to necessary materials to support its block and ready mix divisions.
The company said that it had requested a meeting with GBPA/DEVCO on the issue, seeking reasons as to why it would have limited access to the materials upon renewal of its contract.
The company claimed that no representatives with decision-making ability attended the meeting and it was informed that what was proposed was non-negotiable and the remaining materials were to be sold to an international company.
The company said that it had explained what impact the move would have on ready mix and block production, adding that it could not continue to sustain further investment in the affected divisions given the limitations.
“The GBPA/DEVCO has made it clear that they are not willing to work with us,” the company said.
“It is unfortunate that we have been forced to make this decision, but we cannot work with GBPA/DEVCO any longer.
“It has made it impossible to have a sustainable investment on this island.”
It noted that it did not anticipate a resolution to the issue due to the lack of acknowledgment to its expressed concerns.
In response, Charisse Brown, chief executive officer and senior legal counsel at the Grand Bahama Development Company said that the entity was “surprised” at recent social media reports around what it called “good faith negotiations” between DEVCO and Gold Rock Corp.
“We wish to categorically state that we have not terminated or canceled any contract between DEVCO and Gold Rock or have given any indication that we intend to,” Brown noted.
She pointed out that DEVCO entered into a five-year contract with Gold Rock back in 2017.
She said as the contract is due to expire negotiations began on a new arrangement back in May, adding that the terms and conditions of the new contract are in the final stages.
