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CONTACT Magazine (Vol.18 No.1 – April 2018)

The first issue of the rebranded CONTACT Magazine — with a brand new editorial and design direction — produced by MEP Publishers for the Trinidad & Tobago Chamber of Industry & Commerce

INNOVATORS Hadco invests

INNOVATORS Hadco invests $35 million in new ice cream plant WORDS By: natalie dookie PHOTOGRAPHY courtesy: hadco ltd The HADCO Group is the largest importer and distributor of ice cream products in Trinidad and Tobago, representing premium brands such as Häagen-Dazs, Breyers, Nestlé, and Ben and Jerry’s. So it comes as no surprise that the Group is adding ice cream manufacturing to its list of achievements, with the development of a $35 million ice cream production plant. Started in 1992 by three brothers, Robert, Joseph and John Hadad, the Group Co-Chief Executive Officers, the HADCO Group now consists of five divisions and 12 subsidiaries, representing 154 different brands. Employing more than 800 people, the Group has a wide reach, exporting across 12 Caribbean markets from its base in Trinidad. No stranger to manufacturing and innovation, HADCO recently bought and expanded a local recycling plant which converts used cooking oil into a feeder for biofuel; and its subsidiary, Imanex Limited, is already the largest manufacturer of ice cream cones in the Caribbean. Having successfully produced the Happy Time wafer cone for the past 20 years, HADCO is adding new machines to produce sugar and waffle cones. It hopes to secure 50 per cent of the regional ice cream cone market with the introduction of these new products. 14 Trinidad and Tobago Chamber of Industry and Commerce www.chamber.org.tt/contact-magazine

Above HADCO Group co-CEOs: Joseph Hadad, Robert Hadad, John Hadad Right Creamery Novelties partner, Paul Gabriel Foreign exchange needed for survival “About five years ago we did a gap analysis,” John Hadad explains, “as we had built our business around distribution, and it was heavily reliant on foreign exchange. As a result of this, we decided to get involved in manufacturing, because we needed foreign exchange earnings within the Group for the survival of the structure of the business. We needed to generate our own foreign exchange as well as take the foreign exchange we have and create a valueadded multiplier effect.” So the Group began looking for manufacturing opportunities in any part of the business where it was strong, “around our core competencies and what we already know, which is distribution.” Hadad also notes that getting involved in the manufacturing of ice cream was a huge benefit to the Group, as it already sells 80 per cent of all imported ice Employing more than 800 people, the HADCO Group exports across 12 Caribbean markets from its base in Trinidad www.chamber.org.tt/contact-magazine 15 Trinidad and Tobago Chamber of Industry and Commerce

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