Lenstec (Barbados) Inc.
Lenstec Inc., a manufacturer of medical devices for ophthalmic surgery, has offices in Florida and the United Kingdom, as well as a 30,000 square foot manufacturing facility in Barbados. Manufacturing in Barbados allows Lenstec to develop and manufacture high quality products closer to their target markets, where standards could be more closely monitored and shipping done efficiently.
The company currently distributes its products in more than 50 countries and, to date has three U.S. Food and Drug Administration (FDA) approved lenses being sold in the United States. “When selling to certain territories, the distinction of being located in Barbados proved advantageous and a business distinguisher for international markets trying to discern the quality and caliber of our product. Especially when selling to European markets, and now the U.S., the value of our product can be seen as higher when compared to similarly manufactured products sourced internationally.” (Ian Hickling – President of Manufacturing, Lenstec Corporation)
Lenstec credits the business climate in Barbados with much of its success. The company cites this, as well as the island’s ideal suitability for high value, light weight, low volume shipments, a competitive cost structure, a business friendly government and an excellent quality of life, among the key reasons why Barbados continues to be its location of choice.
The government agency, ‘Invest Barbados’, provides business advice and a one-stop shop for referring questions about doing business in Barbados. Government departments are easy to access and attentive to the needs of exporting companies. Their assistance has made expanding in Barbados an easier task and has helped Lenstec position itself to successfully do business globally.
Even more noteworthy, is the country’s intelligent workforce. As unorthodox as this type of business may be within the Caribbean context, the company was able to source trained personnel in technical and scientific fields such as microbiology, research and development, as well as engineering, IT programming and quality assurance. Lenstec currently has a staff of 215.
This drives home the importance of a country’s reputation within the international community with regard to its political and economic stability, international business policies and the education of its people. These are key factors that new, emerging businesses are in search of when considering a host country in which to set up.
Lenstec (Barbados) Inc
Fax: +1 246 4206797
Cell: +1 246 2662070
Gildan is a vertically-integrated marketer and manufacturer of quality branded basic apparel. We are the leading supplier of basic t-shirts, sweatshirts and sport shirts for the wholesale imprinted sportswear market in the U.S. and Canada, and also a leading supplier to this market in Europe. In addition to continuing our growth within the wholesale channel, Gildan has implemented a major new growth initiative to sell athletic socks, underwear and activewear to mass-market retailers in North America.
JLT Towner Barbados
We at JLT Towner believe that the focused approach on promotion and marketing of International Financial Services by an entity like Invest Barbados, is not only necessary but critical to the growth and prosperity of Barbados as a jurisdiction of choice for firms seeking a stable, reputable location to conduct international business.
The Towner Management Group (TMG) was formed in Barbados in 1991 as a manager of international insurance companies.
It existed as an independent, full-service captive and international insurance manager that is also the largest manager of international structures in Barbados.
TMG’s capabilities were later extended to include offices in Vermont and New York, along with regulatory approval to operate in Arizona, South Carolina, Utah, Vermont and Washington D.C. in the U.S. and Anguilla in the Caribbean.
Effective May 3, 2012, TMG sold its Barbados-based business and operations to the Jardine Lloyd Thompson Group PLC (JLT) and was rebranded as JLT Towner.
The JLT Towner team is committed to providing clients with innovative, long-term management services that respond to the changing demands of a dynamic international business environment.
The services that we provide include:
Ricardo Knight is the President of JLT Towner Barbados. He is also immediate Past President of the Barbados International Business Association and the Chairman of Government's Joint Policy Working Group on International Business.
KM2 Solutions provides value to our clients by delivering reliable, effective Call Centre solutions that support Financial Services, Telecommunications Marketing and Media from four Centres in the Caribbean and Central America.
KM2 Solutions, located in the Harbour Industrial Park, St. Michael, established its presence in Barbados in 2007. Our company was attracted by the urban environment, financial stability, tax advantages to corporations, telecommunications infrastructure and, of course, the innate customer service skills offered by the labour pool available on the island.
Barbados' government promotion agencies are excellent partners, enabling business ventures to be successful. They make great facilities available, assist with accessing workplace equipment and materials, contribute to the education and training of employees, and come to the planning table with sound, facilitative ideas.
Any company’s success can be measured by the contribution of its employees, and KM2 is no exception. Barbados offers well educated, English speaking Call Centre agents with neutral accents. Over the years KM2 Solutions has been in operation, our employees have demonstrated, through their dedication, work ethics and initiative, that we made the right decision when we selected Barbados for our operation.
Our Call Centre in Barbados provides customer support services to a selection of our Fortune 500 clients base. These clients are complimentary of both the quality of services we are able to provide from Barbados, and the beautiful Caribbean environment they enjoy when they visit.
KM2 Solutions Barbados is looking forward to continued success and expansion in Barbados.
- Tony Jennings
Regional Vice-President of Caribbean Operations
TT Electronics Ltd.
TT Electronics Ltd., based on Newton Industrial Estate, is a manufacturer of electronic components, and though originally set up in 1980, the company has been owned by a UK-based international group, TT Electronics plc since 1991. Its longevity as a viable international company operating in Barbados can be attributed to the support of its dedicated, quality workforce, and to the infrastructural framework that facilitates the needs of a large, international company.
Over the years the company has been well supported by local infrastructure and government entities such as Invest Barbados (IB). IB personnel maintain close contact with the company and are always prepared to facilitate any relevant issues that arise. Only recently they aided the company by totally managing the work permit renewal for its CEO. This process has been a time-consuming distraction over the years, but with Invest Barbados managing the process it allowed the company to totally concentrate on its own activity of running its day-to-day-business.
TT Electronics plc employs over 5,000 people world wide, with the Barbados operation employing 125. The company here has the full range of skills associated with volume component manufacture and sources its raw materials from all over the world. A combination of flow and single operation processes enables the production of electrical wire-wound resistors, controlled by well established, ISO approved quality systems. This, coupled with a philosophy of continuous improvement, enables it to compete and rise to the challenges of an increasingly demanding market place.
TT Electronics is a customer-driven organization, enabling it to support demand from global industrial, medical, automotive and telecoms markets, mainly in the USA, Europe and the Far East. Its ongoing success is based around providing those customers with a quality product, delivered to them with a very efficient on-time delivery performance.
- Paul Lewis
TT Electronics Ltd.
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Crucible International operates world-class outsourcing services for clients in the Americas and Europe from its Headquarters near the international harbour in Bridgetown.
Barbados was originally chosen for this operation over other competing locations, by the founder – Confederation Life Insurance, because of its political stability and access to excellent talent and intellectual human capital. Crucible’s success is anchored in the solid business environment, reliable telecommunications and utility infrastructure that Barbados provides. Additionally, near-shore proximity to the North American market gave Barbados an edge.
With access to knowledgeable, capable resources, Crucible is able to match or exceed competing quality and service standards from anywhere in the world, and has been recognized as “the best supplier” by clients in the UK and Canada.
Crucible has worked with Invest Barbados over the years in searching for opportunities globally and as an industry leader, promoting Barbados as a destination of choice for successful ICT operations.
Crucible continues to invest in the people and industry of Barbados; with a staffing lever that varies between 150 and 200. The team has had low turnover, and access to an educated and professional workforce that demonstrates, each and every day, dedication and determination, has been an important differentiator.
The business has grown from its roots as a Captive operation, processing insurance claims for its parent company, Confederation Life, and subsequently Manulife/John Hancock, to the operation that exists today, with a track record of serving several industries, including insurance and financial services, health care, transcription, publishing and telecommunications.
- Joel Alleyne
Aon Insurance Managers (Barbados) Ltd.
Aon Insurance Managers (Barbados) Ltd. (“AIM(B)”) was one of the first Management Companies to be established in Barbados after the first piece of captive insurance legislation, The Exempt Insurance Act was passed in 1983. Now some 30 years later we are still one of the leading Managers and very happy to be here.
AIM(B) formed in Barbados in 1984 and is a wholly owned subsidiary of Aon PLC (Aon). AIM(B) is one of 33 similar operations in 33 jurisdictions around the world which forms the Aon subgroup Aon Captive Insurance Managers (“ACIM”).
ACIM is a leading global captive and insurance management service provider and manages approximately 1200 insurance captives worldwide. We have achieved our continued success through our thorough understanding of the vital issues, by embracing the latest technology and most of all through our unwavering focus on quality client service and maintaining healthy long-term relationships.
From its office in Barbados, AIM(B) manages a diversified portfolio of captives covering all aspects of property, marine, liability and other specialty risks for multinational single parents, associations and privately held companies of Canadian, US and Latin American origin. The provisions laid out in Barbados’ captive insurance legislation helps our clients to carry out these operations efficiently and cost-effectively.
Over the years AIM(B) has partnered with Invest Barbados to promote Barbados as a preferred domicile for international insurance business and international business generally. We are pleased to confirm that the efforts of Invest Barbados have ensured that Barbados has maintained its position as a leading domicile for captive insurance business.
Aon Insurance Managers (Barbados) Ltd.
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