Lenstec Barbados Inc was set up in 1995 as the manufacturing arm of technology supply company, Lenstec Inc of St Petersburg, Florida. The factory commenced operation in April 1996 manufacturing Intraocular lenses (IOLs) for cataract surgery. The company started with the intention of competing initially as a "me-too" manufacturer of commodity end IOLs, using low price and excellent service as the twin competitive factors. Over the years Lenstec has gained ISO 13485 and CE Mark accreditation and has its products registered in more than 50 countries, including the entire European Union, Japan, Australia and China. Lenstec has grown to the point that it now manufacturers 300,000 IOLs per annum with a staff of 108. The company has transitioned its competitive edge to one focused on innovative IOL products, including the world's first truly accomodative lens, which enables patients to see both near and far following surgery. This position us as a leading company as a new market niche opens for elective lens surgery for the presbyopic market.
Lenstec currently has two lens products in US clinical trials and hopes to obtain US Food & Drug Administration approval for these products within 2 years.
Lenstec has achieved much of its commercial success by virtue of its having chosen to set up its manufacturing arm in Barbados. The country offers a high level of literacy - a consequence of the high priority that the Barbadian government places on education - and Lenstec is justifiably proud of its continued growth in staff levels over the years, and the very low rate of employee turnover. Barbados offers a good level of infrastructure, including excellent transport links which have facilitated Lenstec's service image - orders can be placed by European customers one day and delivered to them within two days from Barbados using local courier companies. Lenstec is proud to be a member of the major manufacturing companies in Barbados and has been very pleased by the support offered by Invest Barbados, as the government's inward investment arm is known.
As a further sign of Lenstec's contined committment to Barbados, in 2008 we moved from our existing 15,000 sq ft government-owned manufacturing facility, to a new privately owned 30,000 sq ft facility. We see the partnership with Invest Barbados and the people of Barbados as critical to our long-term international growth.
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.
Gildan's corporate head office is located in Montreal, Canada, and has over 19,000 full-time employees around the world. Shares are listed on the Toronto Stock Exchange and the New York Stock Exchange.
Gildan manufactured over 500 million garments and 750 million pairs of socks last year alone.
Gildan Activewear SRL commenced its sales and marketing operations in Barbados in 1999 with less than 10 employees and currently employs over 145 persons in its Barbados office. This office's primary role is to market and manage the sales of all Gildan products sold worldwide including activities such as: Sales, Marketing, Customer Service, Forecasting, Inventory Control, Operations, and Finance.
As a recognized international manufacturing company, Gildan always seeks to be based in locations that offer the infrastructure and human resources that are conducive to the maintenance and sustainability of our organizational goals. In Barbados we've found high quality employees that enable us to remain competitive on a global scale in the textile and apparel industries. As a result, Gildan is able to boast its #1 position in T-Shirts, Fleece and Sport Shirts. Gildan owes it all to its employees as well as the long-standing historical relationship that Barbados has with Canada.
Gildan Activewear SRL will be celebrating its 10th anniversary in Barbados later in 2009, and will continue to expand its labour force in Barbados to support its long term growth strategy.
Please visit our website at www.gildan.com for additional information.
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:
Assistance in feasibility studies
Corporate start-up (including incorporation and licensing)
Registered office and active ongoing company administration and accounting
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.