At SEPROD we approach growth organically through mergers and acquisitions but also through innovation. New products mean new consumers, new markets and added shareholder value, which is a good indicator of organic company-wide growth.
In 2015 we started the retail packaging and export of Golden Grove Pure Jamaican Cane Sugar now available in Jamaica, Cayman Islands, Barbados and Trinidad and are exploring new product opportunities along the value chain, the first of which will be liquid sugar. In 2016 we redesigned the packaging of our flagship Serge milk brands and introduced Serge Evaporated Milk and full cream and low fat Serge Condensed Milk.
Our greatest 2016 innovation, however, has to be the first ever 100% Lactose Free Cow’s Milk on the Jamaican market available in Low Fat and Full Cream and soon to be offered in exciting flavours. This is only the beginning of our journey to greatness. Our customers have spoken and we stand ready to respond.
We commit to constantly evolving our product portfolio; moulding creative, agile teams guided by facts and market research; and an organizational culture that promotes innovative thinking.
Seprod is fully committed to growing through export and innovation and to do this we are engaged in a robust investment strategy throughout the business to ensure increased competitiveness, capacity, improved best practices and, ultimately, growth.
In 2015 SEPROD committed to spending $J5B over the next two years. Investments to date include a new Tetra Pak line at Serge Island Dairy; a new oven at our biscuit factory (IBL); shade houses, a mix rationing machine and a complete irrigation system at Serge Island Farms; significant plant expansion at Jamaica Grain and Cereals Ltd.; a complete modernization of our cornmeal plant and investing in storage facilities at the wharf.
These projects and other investments are exciting and a tangible display of our commitment to manufacturing in Jamaica. We will see significant productivity gains and growth from them in 2016 and 2017.
In 2017, Jamaica Grain and Cereals (JGCL), a member of the Seprod Group of Companies, upgraded its Cornmeal plant in a joint venture with Seaboard Corporation, by adding a state-of-the-art flour mill.