Cabinet has given approval for the privatisation of Jamaica Exotic Flavours and Essences (JEFE) Company Limited, including the sale of the asset, the involuntary wind-up and any other legal options available for winding up.
The JEFE is located in Saint Andrew and is part of the fruit and vegetable processing industry.
Details of the privatisation were provided by the Minister of Education, Youth and Information, Hon. Fayval Williams, at a Post-Cabinet Press Briefing held at Jamaica House on Wednesday, February 3.
“The mandate of the JEFE was to utilise Jamaica’s primary agricultural products and appropriate technology, to extract high levels of flavour compounds for sale to the international market,” the Minister explained.
“The company had not been operating commercially and had ceased related activities since 2012. It had also not been adding value to the operation of the Government of Jamaica. Goodwill and value of the brand of the company were… $25 million,” Mrs. Williams informed.