Paramount Trading Invests $106M in Manufacturing
PUBLISHED ARTICLE FROM JAMAICA OBSERVER
Paramount Trading (Jamaica) Limited advanced its local manufacturing strategy in 2024 through significant investment in production capacity, equipment and operational efficiency.
Expanding Local Manufacturing
Paramount reported more than $106 million in capital expenditure as the company prepared to increase the contribution of locally manufactured products to its overall business. Key areas of focus included lubricants, bleach and food-grade inputs supplied to commercial and industrial customers.
The company’s long-term strategy includes increasing manufacturing’s contribution to revenue while creating greater opportunities for import substitution, contract manufacturing and exports across the Caribbean.
Investments included additional equipment and improvements to manufacturing operations. Paramount also continued plans involving additional premises along Waltham Park Road to support increased production, warehousing and storage capacity.
Strengthening Operations Leadership
Paramount also strengthened its leadership with the appointment of Everton Younger as Chief Operating Officer, effective January 9, 2024.
Younger brought more than 20 years of supply chain and operations management experience in the manufacturing industry, having held senior leadership positions with organisations including GraceKennedy, Diageo (Red Stripe), Rotoflex Jamaica Limited, Seprod and Liberty Latin America (FLOW).
His appointment supported Paramount’s focus on improving operational execution as the company continued investing in its people, processes and manufacturing capabilities.
Learn more about Paramount Trading Jamaica’s manufacturing capabilities, including oils and lubricants, bleach and specialty chemical production.
Source Credit: Manufacturing developments were originally reported by Jamaica Observer on October 11, 2024. Everton Younger’s appointment was disclosed through the Jamaica Stock Exchange.