One week’s pay was deposited in the bank accounts of weekly-paid workers at Lake Asphalt on Thursday.

Now Joseph Phillip, president of the representing Contractors and General Workers Trade Union (CGWTU), is asking what about the other three weeks' pay that is owed – and what about the viability of the company.

LATT’s CEO Roger Wiggins said it remained committed to the employees and asked for patience.

The La Brea company has had financial challenges since 2019, especially after the closure of Petrotrin.

Phillip said the company suffered a huge loss – the guaranteed market to supply bitumen to Petrotrin – when that company was shut down and customers opted to source bitumen independently.

Phillip also said the company made some bad decisions, lost international markets, and failed to diversify its products.

The union said this resulted in talks about closure and privatisation.

An interministerial committee, including late energy minister Franklin Khan, Trade and Industry Minister Paula Gopee-Scoon and Finance Minister Colm Imbert, was convened in 2020 to assess the company and make recommendations.

Khan told Newsday in January this year that the plan was not to shut down the company, which had been in a slump for some time, but to revitalise it.

Labour Minister and La Brea MP Stephen Mc Clashie also told this newspaper in January that the report was submitted to the Prime Minister before going to the Cabinet.

Mc Clashie said the recommendation of the committee was not to close but find solutions to the problems plaguing the asphalt company.

Responding to questions from Newsday by e-mail, Wiggins said, “Lake Asphalt is currently experiencing a number of challenges that have unfortunately and regretfully resulted in a delay in the payment of wages/salaries to our employees.”

He identified the challenging factors as the covid19 restrictions, increasing competition, and a decrease in demand for its products from traditional local, regional and international markets.

Wiggins also saidt projects which traditionally used the company's TLA product internationally continue to trend towards cheaper and user-friendly synthetic polymers for road-paving.

On the future and sustainability of the company, Wiggins said, “We continue to pursue our strategic initiatives inclusive of the research and development of a new form of Trinidad Lake Asphalt product (Cold Milled TLA or CMTLA), and the expansion of the LASCO paint plant.”He said the company was anxiously awaiting the report to see the findings and recommendations of the committee.

He added, “While we may not have seen the level of financial turnaround as we planned, we remain committed to working with all our stakeholders, as we look forward to the findings and recommendations of the Lake Asphalt Sub Committee of Cabinet.

“We sincerely thank our employees for their demonstration of love for the company, understanding, commitment and patience in the midst of our challenges.”

Energy Minister Stuart Young said he is optimistic a solution will b

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