CGT Contractors & Developers Ltd.
When doing business in the Bahamas, flexibility is key. That’s according to CGT Contractors & Developers Ltd. co-owner Wayne Treco, and he should know – the company has operated there since the 1960s, taking on a broad range of work. This approach not only allows its team to be versatile, but also successful in its market. In the Bahamas, Treco says, “You can’t just specialize in commercial [projects] and think you’re going to be a success. [You will not have] enough volume.”
The Nassau, Bahamas-based CGT Contractors & Developers specializes in property development, as well as contracting services for residential, commercial, government and industrial projects. “We’re a genuine general contractor,” Treco says, noting that the company’s work ranges from foundations to facilities.
Treco’s father, co-owner Carl G. Treco, started the company in 1963 as Carl G. Treco Contractors. Since then, the firm has grown from a one-man operation to a multimillion-dollar company, Wayne Treco says, noting that his brother, Larry, also is a co-owner and company president.
Today, CGT employs a staff of approximately 200 and enjoyed sales of approximately $20 million in 2009, Wayne Treco says. He notes that the company’s recent work has been largely comprised of office buildings, government projects, high-end residential homes and warehouses.
By providing a high level of performance, CGT says it has been able to attract and retain an experienced and talented construction staff. “As a result, the company has the ability to offer clients the highest level of construction management expertise across the many services we provide,” it says.
Much of CGT’s work comes from local clients who also are repeat customers. “A lot of our business is [also earned] by word of mouth, through working with architects over the years,” Treco adds.
CGT also maintains a strong focus on safety, Treco says. The Bahamas has yet to see the formation of an organization like OSHA, though it strives to abide by the organization’s rules. He notes that all of CGT’s workers are trained to OSHA’s guidelines.
Surviving the Slump
Treco joined CGT as a full-time employee in 1981. However, “I’ve been in it all my life,” he says, explaining that he worked at CGT when he was a teenager. “I was born into this business.”
He was educated in the United States before returning to the business. At Florida International University, Treco earned an associate’s of science degree in building construction technology and a bachelor’s of science degree in construction management.
Recently, he admits, business has been in a slump, but CGT has not been hit as hard as it could have been. “We’re lucky to be an established company [that is] surviving,” he says.
Although the company has to bid for projects more often than it is used to, CGT’s diversity has helped it stay afloat, Treco says. “We tend to get enough to keep ourselves going,” he says. For instance, CGT is at work on a government library project for the College of the Bahamas in Nassau, as well as a government project at the Nassau International Airport. Its recent work also has included an 85,000-square-foot lumberyard and a high-end home.
CGT maintains a local focus by contributing to such organizations as rotary clubs, Salvation Army and the Haitian Relief Fund, Treco says.
However, he asserts that these efforts are made with truly charitable intentions and not for the benefit of a tax write-off. “Because we don’t have any taxes, every donation we give is out of our own pocket,” he says.
The company also is a member of local industry organizations, including the Bahamian Contractor’s Association (BCA), which is based in Nassau. ”Currently, we have small, medium and large general contractors and subcontractors from virtually all trades [as members],” the association says.
“The Bahamian Contractor’s Association was established in 1959 out of a need for the collaboration and organization of contractors to promote the advancement of the construction industry through the adoption of regulation and good practice,” it says. “A non-profit organization, today, the BCA is highly regarded as the recognized representative body for the interests of its members and acts as the voice for the construction industry throughout the Bahamas.”
Keeping CGT Going
Despite the economic challenges, Treco says he sees a strong future for CGT that will find the company continuing its legacy of family management. “I have other members of the family joining us,” he says. “We [also] think we’ve pushed hard enough to change it to grow with the market.”
He hopes to see CGT take on more projects with sustainable initiatives. Although the company has had some jobs with green features, the trend hasn’t taken hold in the Bahamas just yet. He expects the increasing cost of fuel to make it more relevant soon.