History

Freeport Concrete Co. Ltd was founded in Freeport, Grand Bahama in 1995 by Hannes Babak, a property developer by trade. He applied for and was granted a license from the Grand Bahama Port Authority Limited to start his own concrete batching company, not only to supply concrete to his own deluxe, multi-story condominium building project, but to also provide competition locally where previously there existed only one readymix concrete operation.

In early 2001 Freeport Concrete Co. Ltd completed a successful Initial Public Offering and the Common Shares were listed on the Bahamas International Securities Exchange in March 2001 with over 700 new shareholders.

In the latter part of 2001 Freeport Concrete Co Ltd purchased the assets of Builder's Depot Limited in Freeport, Grand Bahama and acquired a 67.5% shareholding in Robinhood Enterprises in Nassau, Bahamas. A further 22.5% shareholding in Robinhood Enterprises was acquired in the latter part of 2002 resulting in Freeport Concrete Company Ltd owning 90% of Robinhood Enterprises. Robinhood Enterprises was sold in August of 2005.

Builder's Depot's name was changed to the Home Centre and is the largest building supplies retailer in Grand Bahama, supplying local contractors with all building materials, including plumbing, electrical, air conditioning and paint supplies. The Home Centre caters to both do-it-yourselfers and professional contractors who serve the home improvement and construction sectors in Grand Bahama.

Following two devastating hurricanes in September 2004, the Home Centre opened a store at Seahorse Plaza in Freeport, Grand Bahama Island. The Home Centre's Seahorse Plaza store was closed in December 2006.

On September 2006, the Home Centre moved into a new 80,000 square foot building in Freeport.

Copyright 2007-3 Freeport Concrete Co. Ltd. All rights reserved. Terms of Use, Privacy & Legal Statement.