October 1, 2026
Massy Holdings Ltd. (MASSY) has advised that on September 29, 2026, Massy Machinery Ltd., through which the CATERPILLAR (CAT) Line of Business operates in Trinidad and Tobago, entered into an Asset Purchase Agreement with Machinery Corporation Motors Limited a locally registered subsidiary of Machinery Corporation of America Inc. for the sale of certain assets and related business interests associated with the CAT Line of Business. MASSY has further advised that the completion of the transaction remains subject to requisite regulatory approvals. MASSY has also advised that the consideration is US$16 million and the total loss on sale is expected to be approximately US$9.8 million, a significant portion of which relates to employee severance.
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