Log In

Reset Password
BERMUDA | RSS PODCAST

Butterfield: Conditions have shifted so a few people can benefit

Former Bermuda Cement Company general manager Jim Butterfield

The former operator of the Dockyard Cement Facility has questioned the viability of the conditions laid down by the West End Development Company (Wedco) for the running of the plant.

In awarding Maxcem Ltd. a lease to run the facility for the next 10 years, Wedco required the company to look at the future relocation of the plant, to offer an additional 20 percent of its shares to the public and to set out immediate upgrades to the existing silos.

But Jim Butterfield, whose company Bermuda Cement Company (BCC) operated the facility at Dockyard for 40 years, said: "I think it is all just Wedco talking tough, but nothing will happen.

"My feeling on this whole cement affair is it just shows how prejudiced this Government is and the blatant corruption and shifting the requirements so that just a few people benefit."

Mr. Butterfield, who sold up to Maxcem's majority shareholder Dennis Correia, cement manufacturer Cemex, Christopher Shanks and Paul Simons, said there was no reason to move the plant as its current location in Dockyard was practical for ships to unload their supplies and the silos were still in good condition.

Mr. Butterfield said that his company never had any issue with the stipulation for the 20 percent sale of its shares, but questioned who the shares would be offered to and whether they would truly be made public.

He also queried the requirement for an immediate upgrade of the site and what Wedco knew about cement plants, adding that they should let the tenant get on with running of the business.