Wisynco Group Limited, makers of Wata and Cran Wata, energy drink Boom, and its flagship soft drink, Bigga and the plastic party cups featured in Richie Loops song, are now adding yet another loop to their belt.
They are now investing an addition JA$300 million to upgrade their trucks, production line technology and Bottle Reclamation plant (Bennett, 2015, December 30) that recycles plastic bottles into new ones, to quote Chairman of the Wisynco Group, William Mahfood: “It will be in manufacturing as well as in areas like trucks and equipment for distribution, upgraded technology and plastic manufacturing. We are also doing quite a bit of investment in the restaurant business and we will continue to look at other opportunities”.
2015 was clearly a good year for Wisynco, as can be seen from their continued expansion:
- US$6 million in warehouse space
- US$2 million in a water-treatment plant
- US$1.75 million in a new office building
They’re already committed some JA$200 million to building a 1 MW Solar Power Plant at their Lakes Pen headquarters (Deer, 2015, September 23) in St Catherine. The aim is quite clear really; lower the cost of electricity by as much as US$1,000 per day, making products cheaper for export to international markets as GraceKennedy is doing via Amazon (Deer, 2015. October 31) as well as in Nigeria (Deer, 2015, November 26) with their Dunn’s River Nourishment Line.
Already they’re seeing a significant growth in local and international sales and their Solar Power Plan is yet to be completed. No wonder the JMA (Jamaica Manufacturers’ Association) at their 47th staging of their awards ceremony in October 2015 (The Jamaica Observer, 2015, October 12) and gave them the Governor General’s Award for manufacturer of the year.
Wisynco Group Limited expansion for Export – 2016 is the Year for Small Business Growth
With a staff complement of 2000, providing the best work environment is key to their current and future success.
To quote William Mahfood: “We have a staff of almost 2000 individuals today, and it is the commitment of our people that has really caused us to be more successful than anything else. From the line staff in the warehouse factories up to management, the commitment, dedication and passion both in manufacturing, distribution, sales and operation is what makes the company successful”.
But it’s what he has to say about manufacturing that quite surprising, as he’s encouraging small manufacturers to expand, as the International market is growing, to quote William Mahfood: “It’s very good for small manufacturers to look at investing in new capital, production and so forth. Especially with the lowering of the interest rates, there are a lot more funds available from institutions such as the Development Bank of Jamaica, through some of their programmes. I think it’s a very opportune time for small manufacturers to look at investing in Jamaica”.
This sentiment seems to echoes those of Digicel Chairman Denis O’Brien (Hall, 2015, November 8) who sees positive times ahead for growth in Jamaica. Economic indicators such as Jamaica passing its 10th (International Monetary Fund) Test (The Jamaica Gleaner, 2015, December 16) as well as the low interest rates auger well for Small manufacturing businesses to borrow money to expand into export.
The World demands Jamaican products aside from spices, sauces and sugar cane. 2016 should be the year that the unemployed start their own business (Deer, 2015, December 25) even though this is also an indicator of a coming Recession in Jamaica similar to that in Trinidad and Tobago (The Jamaica Observer, 2015, December 5) due to a reduction in US and European Remittances (Deer, 2015, October 27) connected to sub-US$50 Oil.
The Wisynco Group Limited is merely following good business sense to expand to meet this demand and counter the dark skies ahead.
Here’s the link:
Wisynco Group Twitter Feed: @Wisynco
Wisynco Group Instagram: @wisynco
- Deer, L. (2015, September 23). Wisynco Group 1 MW Solar Power Plant – British partnership with Padero Solar UK for conquest of Africa and India. Retrieved from http://mythoughtsontechnologyandjamaica.blogspot.com/2015/09/Wisynco-Group-1-MW-Solar-Power-Plant.html
- The Jamaica Observer. (2015, October 12). PHOTO: Top manufacturer. Retrieved from http://www.jamaicaobserver.com/news/Top-manufacturer_19233193
- Deer, L. (2015, October 27). World Bank’s Global Remittance Slowdown – Why Jamaica’s Remittance will slow in 2016 as Saudi Arabia Runs out of US Dollars World Bank’s Global Remittance Slowdown – Why Jamaica’s Remittance will slow in 2016 as Saudi Arabia Runs out of US Dollars. Retrieved from http://www.mythoughtsontechnologyandjamaica.blogspot.ru/2015/10/World-Bank-Global-Remittance-Slowdown-Jamaica-Saudi-Arabia-Oil.html
- Deer, L. (2015. October 31). How GraceKennedy will achieve 20% growth in the USA via Amazon. Retrieved from https://lindsworthdeer.wordpress.com/2015/10/31/how-gracekennedy-will-achieve-20-growth-in-the-usa-via-amazon/
- Hall, A. (2015, November 8). Jamaica Ready To Soar – Strong Economic Signals Entice Digicel To Spend More Than J$1B To Improve Its Offerings. Retrieved from http://jamaica-gleaner.com/article/news/20151108/jamaica-ready-soar-strong-economic-signals-entice-digicel-spend-more-j1b
- Deer, L. (2015, November 26). Why GraceKennedy Dunn’s River Nurishment line in Nigeria, Africa is a bet for the Future. Retrieved from https://lindsworthdeer.wordpress.com/2015/11/26/why-gracekennedy-dunns-river-nurishment-line-in-nigeria-africa-is-a-bet-for-the-future/
- The Jamaica Observer. (2015, December 5). Trinidad and Tobago ‘officially in recession’. Retrieved from http://www.jamaicaobserver.com/news/Trinidad-and-Tobago–officially-in-recession-
- The Jamaica Gleaner. (2015, December 16). Jamaica Passes 10th IMF Test, US$39m Approved For Disbursement. Retrieved from http://jamaica-gleaner.com/article/news/20151216/jamaica-passes-10th-imf-test-us39m-approved-disbursement
- Deer, L. (2015, December 25). Why 10000 firms registered in 2015 at Companies Office of Jamaica heralds Recession in 2016. Retrieved from http://mythoughtsontechnologyandjamaica.blogspot.com/2015/12/10000-firms–Companies-Office-Jamaica-Recession-2016.html
- Bennett, K. (2015, December 30). Wisynco to invest $300M in plant upgrade. Retrieved from http://www.jamaicaobserver.com/business/Wisynco-to-invest–300M-in-plant-upgrade