Massy Sells Caterpillar Business to Guyanese Company MAcorp
Massy Group has sold its Caterpillar business in Trinidad and Tobago to Machinery Corporation Motors (MACORP), as part of a strategic review of Massy Machinery.
The value of the transaction has not been disclosed. The sale does not affect 200 employees, who will have the opportunity to be considered for positions with MAcorp, a Guyanese company that operates in multiple Caribbean and Latin American markets.
Massy's Caterpillar business has been part of the group for nearly a century, and Massy Group vice-president Dionne Ligoure described the transaction as a significant development. MAcorp brings Caterpillar expertise and regional reach to the business.
The sale follows a review of Massy Machinery Ltd. and the future positioning of its businesses. Affected employees will receive support during the transition, including access to the company's Employee Assistance Programme and other resources.