New import duties mean savings for paint buyers
consumers.
In response to a change in duty schedules contained in the new budget announced in February, the Bermuda Paint Company has vowed to pass on savings to its customers by dropping prices on some of its products.
The changes affect prices on locally manufactured paint, made possible by a reduction in customs duty on raw materials.
One-gallon containers of some paints were reduced by $1 while as much as $5 has been knocked off the price of five gallon quantities of the popular Acri-lux Moonstone. Acri-flor (white/tinted) fell by $15, while Maxi-Prime five gallon containers dropped $3.
An even more significant saving was tempered slightly by the 22-and-a-half percent increase in the cost of empty paint containers.
"The consumer is the winner,'' said a Bermuda Paint Company press release.
"We commend Government for considering the manufacturing segment of local business,'' General Manager Mr. John Carey wrote to the Finance Minister in February.
"You have our assurance that we will in fact pass on the savings in cost to the public,'' Mr. Carey wrote.
"We've always provided the absolute best for less. We manufacture paint specifically for Bermuda, for every purpose and application. We are conscious of everyone's residential, commercial and decorative needs,'' said Mr. Alex Outerbridge, sales manager with the Bermuda Paint Company.