KINGSTON, Jamaica, CMC – The Trinidad and Tobago-based regional conglomerate, ANSA McAL Group of Companies, says it will be investing more than J$150 million (One Jamaica dollar=US$0.008 cents) in its operations in Jamaica this year as part of the management’s strategic thrust to improve the entity’s efficiency and profitability.
Chief Executive Officer Anthony N. Sabga III, addressing a special reception for Jamaican business stakeholders, said, “This year alone, we will invest over $150 million in retooling the Jamaican operations to drive further efficiencies and capacity expansion,
“I have set a very ambitious target for our Group, which is to double our size and profitability by 2027 to achieve annual profitability of US$300 million. Jamaica is very much part of that journey,” said Sabga, who was making his first visit to Jamaica since becoming the Group’s CEO in 2020,
Minister of Industry, Investment, and Commerce Aubyn Hill welcomed the announcement: “What your Group brings to Jamaica is simply amazing.
“This is the kind of company we want to have in Jamaica to make sure they upskill Jamaicans, broaden their vistas, [and] make sure they have good jobs,” he said, noting that the planned investment has significant potential for the local manufacturing sector.
ANSA McAL Limited comprises 48 companies and is one of Trinidad’s largest conglomerates. The Group has been operating for 140 years and has business interests in eight territories in the Caribbean, Europe, and North America.
In 2017, the entity completed its acquisition of Lewis Berger Overseas Holdings, a significant shareholder of all three Berger paint companies in Trinidad and Tobago, Barbados, and Jamaica.
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