almost an acre of land at its St. John's Road headquarters for an undisclosed sum as it seeks to climb out of the spiral of falling revenues of the recession.

In confirming this, BC&M chief, Mr. Alan Burland stated: "The construction industry slowdown has resulted in less construction business for BC&M and BC&M Builders Supplies. The slowdown was largely the result of the recession.

"The directors decided to sell a part of the yard to Telco (The Bermuda Telephone Company Limited) and to consolidate operations in the remaining yard.

"Generally speaking, business has picked up in the past three months, but sales are still well below the 1987 levels and are unlikely to return to the 1980s levels. Our best years were 1987 and 1988.'' The company had more than two acres on the Pembroke site before the sale agreement, signed on May 30. The sale is pending Development Applications Board approval of the subdivision of the commercial land to allow the separation.

Telco general manager and secretary, Mr. Ernest L. Pacheco, said: "It is about 0.8 of an acre of land. The opportunity arose for purchase. It allows us to have the expansion capabilities for the future.

"It will provide immediately for the consolidation of one aspect of our operations in one location. The underground cable operations is dispersed around the Island, right now. Parts of it are at St. John's Road and parts are at the east exchange on Fractious Street and in Somerset.

"We know the company is growing and there may soon be a need for an additional building to help with future expansion. We have not finalised any plans yet.''