Jamaica’s Stewart Automotive Group has fully acquired the assets of AMECO Caribbean, Inc from US-based Fluor Corporation for a consideration of US$22 million.
As a result of the purchase, the new company will operate as JAMECO Equipment Company Limites.
“JAMECO Equipment Company Limited looks forward to continuing the fine tradition of premier fleet management service to which AMECO customers have become accustomed, to be complemented by the owner’s transport industry experience,” Jackie Stewart Lechler of JAMECO Equipment Company stated.
AMECO had provided customers in Jamaica with fleet and equipment management solutions since 2001.
However, in September last year Fluor disclosed its intentions to fully divest the AMECO construction rental operation. As such, this sale marks the initial milestone of accomplishing that strategy with an ongoing focus on the company’s core markets, a press release stated.