April 17, 2018
Stationery & Office Supplies Limited (SOS) has advised of the purchase of equipment used to manufacture various types of writing books as well as the Brand name SEEK. SOS further advised that the purchase will allow the Company to enter the manufacturing industry in Jamaica starting with books and a plan to continue to manufacture other stationery products in the future. The types of machinery purchased include the following:
- Ruling machines
- Gluing machines
- Stapling machines
- Book presses
SOS has also advised that the total value of this purchase is JM $60M which is being financed through a bond with Jamaica National. SOS expects that the total investment including the machinery, raw materials, and renovations would exceed JM $80M. With this expansion, SOS will be initially employing and additional 25 persons. Production is expected to start during the first week of May 2018.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.