Seprod announces price cut for Cool Fruit range of packaged drinks
The makers of the Cool Fruit brand of packaged drinks, the Seprod Group, has announced a 35 per cent reduction in the price of the product, effective today.
The price of the Cool Fruit range of packaged drinks is now J$20 each, down from J$30.
Seprod Group CEO Richard Pandohie says the price reduction is a strategic move by the Jamaican manufacturer to increase market share, expand its local manufacturing base, generate jobs and grow the economy.
This announcement by Seprod, one of Jamaica's largest manufacturing entities, follows recent reports that reveal more than J$3.7 billion of packaged drinks is imported into the country annually from a regional company.
Pandohie says its recent J$360 million investment in upgrading its packaging plant at subsidiary Serge Island Dairies where it makes the Cool Fruit and Swizzle range of drinks has enabled the company to accrue savings from improved efficiencies, which it is passing on to consumers who continue to struggle amid rising living costs and capped wages.
“This investment resulted in increased production efficiencies allowing us to pass on the cost savings to our consumers, what better way to begin celebrating our 75th anniversary,” the Seprod CEO said in a release.
The investment is the first in a planned J$5 billion outlay over two years to upgrade, retool and improve the efficiencies within the Seprod Group of Companies with a view to increasing competitiveness.