Bacardi will not be laying off staff in its Bermuda offices after the events of September 11 - and the company in fact expects its Island operations to grow, according to the company's chairman and chief executive officer.

Ruben Rodriguez, head of the global drinks company, said that not only were the jobs of the hundred or so staff safe in the Pitts Bay Road world headquarters, but that the company was in fact recruiting more staff at the moment.

Speaking to The Royal Gazette on the eve of the official launch of a new product, Bacardi O, Mr. Rodriguez said that as a family-run business, the company took a long term perspective on its future, and single events would not change the course they had chosen.

"We are a private company and do not have to worry about the ups and downs of the stock market," he said.

"We look at this business on a long term basis so we are not to concerned whether the climate is more favourable now or less favourable now. We are looking at it on a long term basis."

He added that the new product was launched in August in the US and he said: "It has been a tremendous success to the end of September."

He said the company always looked at the long-term and that suggestions of layoffs were unthinkable.

He said: "We never approach a new product launch or the marketing support based on a short-term economic cycle. We look at it long term. Somebody asked if we were thinking of laying off people, and I said, it hadn't even crossed my mind.

"We don't work in short term economic cycles. Just the opposite, you know."

And he said the company, which has 6,500 employees world-wide, had done well in Bermuda and expected the operations to continue to grow.

"We have grown here in Bermuda tremendously since we started this company and we are up to about one hundred employees here, and I expect it to grow. If anything, right now we are interviewing for two positions."

He added that the drinks market was less volatile than other businesses, and that Bacardi was working on its stability by keeping its customers happy.

He said: "Obviously consumer products are much more stable type of industry. We are not subject like the airline business or the insurance companies. This is a very stable and steady and growing business because we continue to come up with new products and new ideas and to give the consumer what they want, because you have to give the consumer what the consumer wants."

He said that the company, which owns not only Bacardi Rum brands but also Martini, Dewars and Bombay Sapphire, had seen record sales last year, and to date the first six months of 2001 were expected also to be exceptional.

The Bacardi building will be swathed in orange for the new launch of the new orange flavoured rum, Bacardi O, tonight. Staff members will be wearing orange and all the new cocktails made with the drink are being made at the bar.

One, the 007, is expected to be a great hit. It is a double shot of Bacardi O and Seven Up.

Mr. Rodriguez said: "This is the biggest product launch in Bermuda." About 400 people are expected to attend the function.