LASCO ENJOYS SIGNIFICANT GROWTH IN LOCAL & INTERNATIONAL MARKETS

Kingston, Jamaica- July 1, 2010: LASCO is enjoying triple-digit growth in exports to the United States and similar buoyancy in all its local and international markets. The LASCO companies are poised for even more phenomenal increase in sales with Hon. Lascelles Chin, Chairman/CEO of the LASCO Group of Companies announcing that LASCO is enjoying great momentum in its output and sales, despite the global economic recession.

Mr. Chin said that LASCO is now supplying its products to renowned international purveyors of food products such as Tesco of the United Kingdom, ASDA (Walmart in the United Kingdom) and Walmart and Publix in the USA. He says LASCO products are a hit among the Caribbean territories, as well as the Caribbean Diaspora in USA and United Kingdom.

“We at LASCO began exporting our products in the 1990s and are currently exporting to over 14 Carribean territories. The export business has been growing extremely well in both the local and overseas markets. We are now taking steps to expand our business on a massive scale to keep up with the high demands for our products,” said the LASCO Chairman/CEO.

Dr. Eileen Chin, Head of the LASCO Manufacturing Ltd., reported that the company’s export business to the United States “grew by 200% last year, and we are now employing additional efforts to boost that business.” LASCO exports to the US surpassed the company’s general export growth rate of 60% last year.

LASCO’s line of soy-based beverages including Food Drink and LaSoy Lactose Free, as well as its food products, Real Jamaican Water Crackers, Canned Callaloo, Canned Ackees, Sauces and Seasonings are among the items in heavy demand in the USA. She explained that LASCO has focused much of its attention in growing the export trade to the tri-state area of the US (New York, New Jersey and Connecticut), as well as US cities such as Atlanta, Miami, Washington/Baltimore, Houston and Los Angeles.

Pointing out that LASCO’s best growth location in the past has been the Caribbean islands, Dr. Chin indicated that LASCO also has exciting plans for Central and South America: “Currently we have been exporting to Panama and Belize, but we are getting into new markets in Central America.”
 
LASCO will also be beefing up some of its operations in the United Kingdom and Canada. The company is fine-tuning its expansion mode: “We have outgrown the manufacturing facility, so we will be expanding our plant, increasing our efficiency and modernising the plant, so we can have a better workflow and volume of output,” stated the Head of LASCO Manufacturing Ltd.

LASCO Distributors Ltd., which handles the distribution of the company’s products, is also on the upswing. LASCO Group Marketing Manager Peter Chin explained that the efficient use of technology, a dedicated team and quality service delivery has kept that division in growth mode. He said the company expects to maintain its dominant position among its competitors in the respective product categories and there are high quality and exciting new products in the pipeline to be launched soon.

LASCO recently introduced to the market, its Real Jamaican Water Crackers and the company will be rolling out some other new products in the near future, including LASCO Soaps which will be islandwide within a month. LASCO’s feminine hygiene product CURVES was recently introduced with great success into retail outlets across the island and overseas. LASCO’s Infant Formula, Whole Milk and Food Drink are currently the market leaders in Jamaica.

LASCO was founded 22 years ago by acclaimed business leader Hon. Lascelles Chin. The company’s senior management team is assuring the public that LASCO will continue to provide high quality food; household, personal care and baby care products at affordable prices.

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Contact:
Erica James-King 
Communication Manager | PROComm
P 876-926-6740 | M 876-564-5277 | F 876-926-8676