Hardware & Lumber Limited is restructuring its operations to transfer the business of its subsidiaries Rapid & Sheffield Company, H&L True Value Limited and Agro-Grace Limited to its holding company Hardware and Lumber Limited. These former subsidiaries will no longer exist as individual companies, but will now operate as three trading groups within Hardware & Lumber Limited.

They are:

• Wholesale Division: Hardware & Lumber
• Retail Division: H&L True Value and Rapid Sheffield Stores
• Agri Division: Agro Grace fram and garden stores

The restructuring which takes effect August 1 will increase operational efficiency and reduce cost through the consolidation and centralisation of several administrative functions. John Mahfood, CEO said that the consolidation would also enable the company to manage its tax charges more effectively.

Mr Mahfood pointed out that although, administratively, Agro-Grace will now function as a division of Hardware & Lumber, the stores will maintain their identity.

The reorganisation has also provided the opportunity for the company to refine its administrative operations by winding up a number of dormant companies. 

"We shall be putting in place all the machinery to ensure that our usual high level of customer service is maintained. Our customers will be the beneficiaries of the company's evolution as we continually seek ways of improving our range of goods and services in assisting Jamaicans to access the quality and variety they seek in building, household and farming products at the best prices," said Mr Mahfood. 

Posted: July 19, 2005