Jamaica’s Omni Industries is expanding to Guyana!
Omni Industries is a manufacturing company that makes thermoplastics like garden hoses, buckets, PVC pipes, and packaging for industries.
The fifty year old company, which listed on the Jamaica Stock Exchange’s Junior Market last year, just sent their first shipment of construction buckets and garden hoses to Guyana.
Now we all know Guyana is one of the region’s fastest growing economies, so this is big news for Omni.
The company raised 500 million dollars from their IPO last year. And they did say that a portion of those funds would be used to upgrade machines and expand their factory.
They bought a 40 million dollar machine late last year, which allows them to offer new products. And now they’re ramping up the export side of the business.
Guyana isn’t the first export market for Omni. They started exporting to Panama in 2023, and they also send products to other Caribbean countries.
Managing Director, Patrick Kumst, says they’re now setting their sights on Barbados and Nicaragua to boost their presence in the region.
The company is also working on saving energy. They installed a solar-powered generator to reduce electricity costs.
And that’s the bottom line.
What do you think of Omni’s latest moves? Is this a company you’d invest in? Let me know in the comments.
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Let’s get this money!