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Seprod CEO Richard Pandohie said Guyana’s booming economy buoyed by its discovery of crude oil makes the country an “exciting” area for investment.
By Tameka Gordon- The Seprod Group of Companies wants to embark on new agro-processing opportunities in Guyana as the company strengthens its foothold in that market through its recent acquisition, AS Brydens.
Speaking at its virtual investors’ briefing last Thursday, CEO Richard Pandohie said Guyana’s booming economy buoyed by its discovery of crude oil makes the country an “exciting” area for investment.
Seprod announced its intentions to acquire a 100-year-old Trinidad & Tobago company, A.S. Brydens & Sons Holdings, in May. The transaction closed on June 6.
AS Brydens has three principal operating subsidiaries including AS Brydens & Sons (Trinidad) Limited (ASBT), Bryden pi Limited (Bryden pi) and FT Farfan Limited (FT Farfan). It was founded in 1923 and is a leading distributor of food, pharmaceuticals, hardware and industrial equipment in Trinidad, & Tobago, Barbados and Guyana.
“Just being in Guyana puts you in the centre of a lot of activity. Guyana’s land mass allows for significant agro-processing opportunities,” Pandohie said.
Pressed on the plans for expanding its agro-processing business in Guyana following the meeting, Pandohie told Loop News that the plans will take some time to build out considering “it is early days yet.”
The company has also forged a business relationship with speciality truck manufacturer Shacman in its bid to tap construction opportunities in Guyana’s growing construction sector, he said.
For chairman, PB Scott, the level of infrastructure investment that will be happening in Guyana sees the company “uniquely poised for exponential growth.”
“Seprod is exposed in one of the fastest growing economies in the region,” Scott said, adding he expects the company to grow at a very fast rate over the next five years.
Speaking to the company’s overall outlook on growth for its various business lines in the region, Pandohie said Seprod is now engaged in several discussions for business synergies which he expects to tie down over the next six months.
“Normally when acquisitions happen, people talk about synergies that occur from cost-cutting. We are seeing synergies occur from enhancing growth…” he said. (Loop News)
