Omni Industries eyes regional expansion
LOCAL plastic and PVC products manufacturer Omni Industries Limited (Omni) will be moving to expand into the burgeoning Central American market and has engaged NCB Capital Markets Limited (NCBCM) as financial advisor to explore various financing options, including equity financing.
While the Twickenham Park-based manufacturer already has a strong presence in the Caribbean Community (Caricom) markets, Omni considers this step crucial in the growth of its international customer base and export opportunities.
“We have secured a substantial contract to supply beverage crates to client in Central America,” shared Patrick Kumst, managing director of Omni. “But that’s just the beginning, which we expect will help to pave the way for other business prospects in the region. To capitalise on this opportunity, as well as other promising ventures on the horizon, Omni has commenced plans to expand its product line by introducing new offerings, such as the manufacture of plastic pallets. This proactive approach will enable the company to diversify its portfolio and tap into new revenue streams.”
Kumst noted that a key enabler in the company’s expansion will be a state-of-theart re-tooling of the company’s equipment, and augmentation of its production capacity. According to Kumst, most of the financing from NCBCM will go towards these efforts, with the aim of increasing the company’s production capacity by 20-25 per cent.
“Through this retooling exercise, we will modernise our plant, enhance operational efficiency, and meet the growing demands of our services in the export market,” Kumst explained. “We’re excited to engage NCBCM, and will rely on their experience to guide us through this expansion phase.”
“We are very happy for the opportunity to support Omni Industries on this game-changing move,” said Timar Jackson, assistant vice president of origination and structuring at NCBCM. “Omni Industries is a key employer in the Spanish Town community, and its planned expansion is expected to create numerous job opportunities, thereby generating a positive economic and social impact for the residents of Spanish Town and the wider Jamaican economy. This collaborative effort underscores the importance of private sector investment in driving sustainable growth and development, while also demonstrating a shared commitment to the betterment of society,” Jackson said.