2 OCTOBER 2002
By Ray Abdilla
"There is no reason whatsoever why Melita Cable would cease operations. On the contrary, its future plans are to expand. The fact is we are increasing our number of subscribers every week so there's no need for people to panic," Gasan Group CEO and Chairman Joe Gasan told The Malta Financial and Business Times yesterday.
Gasan explains that the restructuring process being carried out by the Group, which also includes Melita Cable, is necessary for the good of the company. He adds that, unfortunately, some were adversely affected by the exercise but certain changes had to be implemented - such as reassessing the need for an office in Valletta and Gozo, for example.
Mr Gasan went on to add that, "Although there will be fewer Melita Cable offices available, the consumer will not suffer in any way. The process of restructuring also meant the fine-tuning of customer care. This was always a priority for Melita Cable and it will stay like that.
"Unfortunately many media reports gave a false impression of how things really stand. It is not true that we are facing financial difficulties, neither is it true that we are to discontinue our operations at Melita Cable. We have plans for the future, which include to making our companies more viable," Gasan said.
The on-going process of re-organising the Gasan Group has undertaken has seen the formation of a new holding company, Gasan Group Limited.
Gasan elaborates, "The management of the Group is being re-organised both in terms of its structure and in the way we will operate and focus on our core businesses from our new purpose-built Gasan Centre in Mriehel."
The newly established company is now the ultimate holding company in a Group comprised of automotive businesses, a mechanical and engineering contracting business, substantial property investments, a finance company and other important investments, including material interests in GasanMamo Insurance and Melita Cable Limited.
Group CEO and Chairman Joe Gasan said, "These ongoing changes are fundamental to a new management structure and a new corporate governance culture that we will be fusing into our traditional values and our plans to remain at the forefront of Maltese business."