The Bahamas - Heralding
the start of a new era of growth and development, Mr. Gavin Watchorn, President
and CEO, announces effective immediately, the renaming of Abaco Markets Limited
to AML Foods Limited.
The name change,
which had been approved by the Company’s shareholders at their July 21st
Annual General Meeting, was recently formally approved by the Registrar of
Companies.
The
Company has its roots and origins in Abaco, having been established there in
1989 when a local group launched an initial public offering. As the Company
grew its operations in New Providence and Grand Bahama, the use of the word ‘Abaco’
became less appropriate.
With the
divestment of Cost Right Abaco in March 2009, the Company ceased operations in
Abaco and this presented the Company with an opportunity to re-brand itself as
AML Foods Limited.
“AML Foods Limited better reflects who we are
now and what we do,” says Mr. Watchorn, adding that the Company had retained
some attachment to its old name by using the acronym AML.
AML Foods Limited consists of its retail food
distribution of Solomon’s and Cost Right and Domino’s Pizza franchise in New
Providence and in Grand Bahama. In conjunction with the name change, AML Foods
Limited adopted a new corporate identity inclusive of a new logo aligned with
the Company’s strategic direction and profile. “This signifies a fresh start
for our Group – a new way forward defined by our strategic focus on the growth
and development of our brands in our markets,” adds Mr. Watchorn.
“We
are embarking on a new era, one which will mould our Company for the
foreseeable future” says Mr. Dionisio D’Aguilar, AML Foods’ chairman.
“Our name change to ‘AML Foods Limited’
portrays a stronger corporate identity, reflective of our much stronger
standing than recent years.”
About AML Foods Limited: AML Foods Limited was incorporated in 1989
in The Bahamas and is listed on the Bahamas International Stock Exchange.
The Company and its
subsidiaries are primarily engaged in the operations of retail and club stores
offering dry and perishable food items and other consumer products, and the
operation of a food franchise business.
AML Foods Limited’ Food Distribution includes
its retail division -
Solomon’s
SuperCenter Nassau and Solomon’s Freeport – and its club division - Cost Right
Nassau and Cost Right Freeport;
the
Company’s Franchise Division consists of nine Domino’s Pizza locations in
Nassau and Freeport.
The Company has
recently announced the opening of a new location and format, Solomon’s Fresh
Market.
This store, which will present a
larger offering of organic and specialty grocery items, is scheduled for
opening in April 2011.
The registered office of the Company is
at One Millars Court, off Shirley Street, Nassau, New Providence, Bahamas and
the corporate office is at Town Centre Mall, Upper Level, Blue Hill Road, Nassau,
New Providence, Bahamas, tel: 242.677.7200.
About this report: This report includes “forward-looking
statements.”While AML Foods Limited believes that the
expectations reflected in such statements are reasonable, it can give no
assurance that such expectations will prove to be correct.Important factors that could cause actual
results to differ materially from AML Foods’ expectations include external
economic conditions, changes in the marketplace, changes in interest rates and
operating costs and other unforeseen events or conditions that affect the Group’s
performance.
