Foster Clark plans Lm3m investment

Prime Minister Eddie Fenech Adami yesterday urged local companies to follow the example set by Foster Clark Products Ltd, which, he said, has reacted to the needs of the global market with remarkable success.

Dr Fenech Adami made his comments during a tour of the company`s state-of-the-art automated factory in San Gwann.

He said the company dedicated a considerable amount of time and resources to identifying, exploring and penetrating new potential markets.

The secret of Foster Clark`s success was that the management continued to invest in the company, Dr Fenech Adami said.

Although Foster Clark had not increased its workforce, production had risen sharply, while at the same time workers enjoyed optimum conditions.

The company employs around 240 workers, of whom 40 have been with Foster Clark`s for over 20 years, and 37 per cent have served more than 10.

Dr Fenech Adami praised the company`s management for making their employees feel part and parcel of the success enjoyed.

Foster Clark is now a fully Maltese-owned company after Maltese shareholder Francis Busuttil & Sons Ltd bought all the shares from the foreign partner Unilever two and a half years ago.

The company has an annual turnover of around Lm15 million, with over 90 per cent of its production being exported to 40 countries, mostly in the Middle East and Africa.

To date, over Lm9 million have been invested in the company, and a further investment of Lm3 million is planned over the coming years.

The factory produces a range of foods, sauces and drinks under the brand names Foster Clark and Calypso.

The prime minister was accompanied by Economic Services Minister Josef Bonnici.