Wisynco Group Limited is taking bold steps toward sustainable growth as it sets its sights on strengthening its position in both the local and international markets. At the company’s recent annual general meeting (AGM), held at the S Hotel Kingston, CEO Andrew Mahfood revealed that Wisynco’s next phase of expansion will focus on diversifying its product packaging and ramping up its export initiatives. The company’s growth ambitions come at a time when demand for sustainable practices and eco-friendly solutions is higher than ever.
Sustainability in Focus: Glass and Tetra Pak Packaging
One of Wisynco’s key strategies to reduce its environmental footprint is its push to incorporate more sustainable packaging options. Mahfood confirmed that the company will be introducing Tetra Pak and glass bottles alongside its traditional plastic packaging. These changes are part of a broader initiative to reduce plastic waste and provide longer shelf life for beverages, especially those that require carbonation.
“The introduction of Tetra Pak packaging is a direct response to the growing demand for plastic-free alternatives, especially in the hospitality industry,” Mahfood said. “As for glass, it offers us both environmental benefits and an enhanced product shelf life, which will help improve the global competitiveness of our brands.”
The Tetra Pak trial, which is currently being tested in Jamaica’s hotel sector, is set to extend beyond the local market as the company continues to explore environmentally friendly packaging solutions. Wisynco’s move to decrease its reliance on plastic follows an earlier initiative that saw a reduction in plastic content by 50% in its bottles and a shift to smaller bottle caps.
Export Goals: A Sharper Focus on Global Reach
While Wisynco’s local market continues to thrive, the company is intensifying its efforts to expand internationally. The company’s export revenue, currently accounting for just 2% of total income, is expected to grow significantly as Wisynco capitalizes on its new production capabilities. Mahfood emphasized that expanding export sales is now a key strategic priority, particularly as the company begins to roll out its new canned beverage lines and enhanced product ranges for international markets.
“Our production capacity is now at a level that allows us to be more aggressive in pursuing exports,” Mahfood explained. “We see a tremendous opportunity, particularly in the Caribbean and the UK, where demand for quality Jamaican-made beverages continues to rise.”
Wisynco has already seen success with Bigga, a local beverage brand, which has become a staple in markets like the UK. The company’s recent upgrades to production lines will enable it to meet higher international demand, with Mahfood forecasting increased sales across the UK, US, and Caribbean regions in the coming year.
Diversifying Operations with Energy Efficiency and Waste Management
In addition to its focus on packaging and exports, Wisynco is also making strides in improving its internal operations. The company is investigating ways to reduce its environmental impact through alternative energy solutions. This includes exploring the integration of solar power and increasing the use of liquefied natural gas (LNG) to reduce energy costs.
Furthering its sustainability agenda, Wisynco is expanding its wastewater treatment infrastructure to ensure that its environmental footprint continues to shrink as its production scales up. These efforts are part of a broader environmental sustainability push that is expected to support both the company’s growth and Jamaica’s long-term green goals.
Expanding Infrastructure: New Distribution Hubs and Job Creation
To complement its production and export growth, Wisynco is also focusing on strengthening its distribution network. With new land acquisitions in St. Elizabeth for a distribution center, the company is expanding its logistical capacity across Jamaica. This new facility will be Wisynco’s third major distribution hub, following the successful launch of its Trelawny-based facility in 2022.
“The new facility in Lacovia will play a crucial role in enhancing our ability to serve customers across the island, especially as demand for our products continues to rise,” said Mahfood.
To further support its expanded operations, Wisynco is ramping up hiring, having recently added 500 new employees to meet the growing demand. The company has also created hundreds of contract and full-time positions, contributing to job creation in local communities.
Financial Outlook and Strategic Direction
In its latest fiscal year, Wisynco saw impressive revenue growth of 11%, reaching $54.27 billion. However, despite the positive revenue growth, the company’s net profit increased by a more modest 5%, highlighting the significant investments being made to expand production and enhance infrastructure.
Looking ahead, Mahfood expressed confidence in the company’s trajectory, noting that the new packaging initiatives, coupled with the push into international markets, will drive long-term profitability.
“We are on track for a bright future,” Mahfood concluded. “As we continue to diversify our offerings, expand our global footprint, and commit to sustainability, Wisynco is poised to be a leader in the industry for years to come.”
Next Steps: Expansion and Growth Plans in 2025
As Wisynco completes its final phase of expansion in early 2025, the company is preparing for more strategic investments, including a significant capital expenditure plan and ongoing improvements in energy efficiency. With increased capacity, expanded product offerings, and a focus on sustainable growth, Wisynco’s vision for the next decade is set to position it as a dominant force in the global beverage market.
The company will also be considering future dividend payments, with plans to review the next payout to shareholders in early 2025.
With a growing global presence, increased export revenue, and a commitment to sustainability, Wisynco is charting a path towards becoming one of the region’s most innovative and environmentally conscious manufacturers.
