THE former Neal and Massy (now Massy) Guyana on Wednesday launched their new brand and opened their new distribution facility at D4 Starlite Square, Montrose, East Coast Demerara, all under one name, “Massy.”

On hand was Minister of Finance, Dr. Ashni Singh, who declared the spanking new US$10M facility open after cutting the ribbon and unveiling the commemorative plaque.

Massy is headquartered at the East Coast Demerara location with its new distribution facility/Massy Trading.

In his feature address, Finance Minister, Dr. Ashni Singh told the gathering that the Massy Group is the largest in the Caribbean with 11,000 in its employ and the presence of this regional brand, now a unified Massy brand represents tangible demonstration of the confidence of this large international company here in Guyana.

Dr. Singh, in reporting the growth of Guyana’s economy, said that there has been uninterrupted, positive growth since 2006 and Massy as well has grown over the years.

Massy Guyana has seen its net profits before tax grow from G$1.1B to G$3.5B in the period from 2006-2013, a growth of 205% and it has seen its net profits after tax grow 223% over that seven year-period, Dr. Singh said.

He disclosed that Massy has also seen its assets grow by 128% and seen its net assets grow by 121%; Dr. Singh added that the company has seen growth in profits estimating 30% per annum and growth in its total assets approximating 18% per annum.

The minister told the gathering on Wednesday night that Massy’s growth pays testimony that our economy is growing and the company has contributed to that annually and has created 394 new jobs with the re-branding and opening of its new distribution facility.

Massy Distribution Guyana Chief Executive Officer, Roy Prasad said they leave behind the iconic and well-loved brand for a new identity that has served the Guyana Group well in the past but the future beckons, that demands that they articulate a bright and bold vision where this group is going so they can re-shape their identity in order to meaningfully engage with all stakeholders.

He added that the future also requires that they establish new facilities that have the appropriate infrastructure to fulfil the specific needs of their customers and satisfy the functional requirements of the businesses they operate.

Deo Persaud, Chief Executive Officer, Massy Guyana said the ceremony marks a new chapter in the legacy of Massy in Guyana and the transformation is to fulfil their purpose of being a force for good, creating value and transforming lives in this country.

Persaud promised newer projects, since they are part of a regional corporation with the addition of Colombia and Costa Rica and all their companies will carry the Massy brand, which is easier and more convenient.

During the feature address, speaking on the launch of the Massy brand in Guyana, Gervase Warner, who is the President and Group Chief Executive Officer, Massy Holdings Limited, said overall the Massy Group is more than 90 years old.

He detailed the rationale behind the name change, which he said was geared towards improving the company and with a vision statement and strategic planning exercise after some deliberations with consultants they arrived at one name: “Massy.”

Warner disclosed on Wednesday night that they are the holders of one of the largest supermarket franchises throughout the Caribbean and that within 12-18 months; Massy supermarkets will be established here.

Warner highlighted the vision behind their logo and its design as he introduced the “Massy” song, singing and dancing to it on Wednesday night.

(By Michel Outridge)