Massy Unloads Trinidad CAT Business for US$16 Million

Massy Holdings Ltd has announced the sale of its Caterpillar (CAT) business in Trinidad and Tobago to Machinery Corporation Motors Limited (MACORP), a subsidiary of Machinery Corporation of America, Inc., for US$16 million. The deal is expected to result in a loss of $9.8 million on Massy's part, largely due to employee severance costs. The transaction was finalized through an asset purchase agreement on September 29, 2026, and is contingent upon regulatory approvals.

The sale comes as the conglomerate reports lower earnings for the nine months ended June 30, 2026, with a profit attributable to owners of the parent down by 35.6% from last year's figures. The decrease was partly due to a $120.79 million loss from discontinued operations, mainly linked to the sale of Massy Distribution (Jamaica) Limited.

The company believes that the sale will enable it to redeploy capital towards its longer-term strategic priorities and place the Trinidad CAT business within a larger regional platform with MACORP's established operations and specialist capabilities. Chairman Robert Riley described the loss on the sale of Massy Distribution (Jamaica) Limited as an accounting consequence rather than a current cash outflow.