CBR
search

Massy Holdings expands in Guyana

Stabroek News, Guyana, is reporting that Trinidadian conglomerate Massy Group will open one of its largest stores in the Caribbean at Turkeyen, East Coast Demerara.

Located in the MovieTowne compound, “Massy Stores –Mega” as it is called, comes three years after the group’s first supermarket in the country, Stabroek News said. In 2016, Massy’s supermarket was opened at Providence.

Massy’s Supermarket at Amazonia East Bank Demerara in Guyana. (Photo: demerarawaves.com)

Stabroek said the store’s design incorporates extensive aisles, spacious parking facilities, and it offers services including a deli and bakery, butcher and fresh fish counters, an in-store pharmacy, ATM machines, MoneyGram and SurePay points of service.

The Massy Group, which has been in operation since 1923, is described on its website is a diversified regional conglomerate with operations throughout the Caribbean basin, Colombia and South Florida. 

“Construction of this new facility is expected to start by the end of the first quarter of 2019 calendar year. “

The Group employs over 11,000 people in our retail, distribution, automotive and industrial equipment, energy and gas products, financial services and other business sectors, the website notes. 

Massy group is inclusive of over 60 operating companies across six business segments comprising Massy Holdings. The public company is traded on the Trinidad & Tobago Stock Exchange.

Massy trades on the Trinidad and Tobago Stock Exchange.

In its 2018 annual report, the group noted, “We have already transformed the retail landscape in Guyana with the launch of Massy Stores and with the first supermarket in full operation at Providence, East Bank Demerara.”

It noted that construction is well underway for the second store, “an impressive 60,000 sq. ft. SuperCentre at the MovieTowne Complex in the East Bank area.”

The group stated that the retail expansion I would be supported by a well-established Distribution business in Guyana, as well as a strong logistics operation in Miami. 

Directors noted in the report that the group has approved a capital expansion plan for Massy Industries Guyana Ltd. and Massy Services (Guyana) Limited for the construction of a modern signature building at Ruimveldt. The expansion will enable the companies to position themselves to become major beneficiaries in the Oil and Gas Economy of Guyana, the report said. 

It was noted that construction of this new facility is expected to start by the end of the first quarter of 2019 calendar year.