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Congrats, Angostura, for 200 years of excellence

THE famous House of Angostura will celebrate its 200th anniversary this year. Congratulations are in order. For this company, like KFC, Tabasco and other US companies, it is part of our history, both at national and international levels. Its world-renowned Angostura Bitters placed us on the world map long before most of our wellknown international achievements.

The 200-year-old company, now owned by the Corporation Sole, is one of very few companies that have survived the transition from colonialism to Independence. The original owners, the Siegert dynasty, have long left the business; however, their pioneering efforts 200 years ago continue to successfully develop and expand as stated in its report ( Trinidad Guardian, January 26). The future looks bright for Angostura.

One of, if not the most significant aspect of the company’s history occurred in 1957 when a foreign company almost succeeded in a hostile bid to take it over and deprive us of this crown jewel. Fortunately, the then government, led by Dr Eric Williams, positively responded to a request for assistance.

The government made a superior offer in the form of a loan under reasonable and acceptable terms and saved the company from being removed from our country. That was 66 years ago. The rest of this chapter was highlighted in its 150th anniversary celebrations on October 11, 1975.

Dr Williams said, ‘That as you know, Mr Managing Director, company and nation nearly parted company some years ago when a foreign takeover bid emerged and your predecessor sought the assistance of the government.

‘The government made a superior offer, bought a substantial amount of Angostura company shares, loaned money to a new local company, Siegerts Holdings Ltd, to purchase a large part of the shareholdings at the price we paid for it, on two conditions: (1) that no dividend would be paid to Siegerts Holdings until the entire loan was repaid; and (2) that the secret formula should remain secret and on no account be divulged to anyone at home, abroad and outside of the family.’

Today, Angostura continues to be not only part of our business history but part of almost every aspect of our culture. I hope its year-long celebrations will encompass all aspects of its birth, growth and development.

Congratulations on this magnificent achievement.

Ferdie Ferreira

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