In 2015, West Indies Synthetics Company Ltd (WISYNCO) celebrated 50 years of operations by early 2018 the company is set to celebrate another milestone, as the third Mahfood majority owned company to be listed on the Jamaican Stock Exchange.
Wisynco was formed as a result of the amalgamation of the three companies – West Indies Synthetics, Wisynco Trading Limited, and Jamaica Drink Company Limited.
Prior to this, CMP Industries that was primarily a manufacturing company supplying office equipment and material, was listed but suffered declining fortunes with the switch in import policies in the 1980s and 1990 that saw incentives being removed or slashed to protect local manufacturing. CMP still operates but as a property owner and is now controlled by the Trustees in Bankruptcy.
Jamaican Teas, listed on the Junior Market is majority owned by another branch of the family, that includes John Mahfood and his parent.
Wata produced by Wisynco
In 2009, Partner Foods Limited and Wendico Jamaica Limited merged to form one company – Wisynco Foods Limited. Wisynco Foods represents the brands Wendy’s, Domino’s and Haagen Dazs. In 2014, Wisynco purchased fifty percent share in United Estates Ltd & Trade Winds Citrus Ltd.
According to Wisynco website, Saleem Mahfood was married to Evelyn Shammas in Lebanon, following which on his return to Jamaica he opened his own wholesale haberdashery at 132 Harbour Street in downtown Kingston. He named it Mahfood’s Commercial Limited. The store distributed goods to retailers — footwear, including the once popular BATA sneakers, Cebo water boots; along with yard goods, and a range of haberdashery items.
The brothers formed WISYNCO and borrowed £150,000 from Barclays Bank to build and equip a 6,000-square-foot factory at Twickenham Park in St. Catherine and hence the official birth of Wisynco. The new plant started production and manufactured 60 pairs of boots per hour. Soon farmers, casual labourers, factory workers, and anyone needing protection from the elements would be sporting Jamaican-made Iron Man water boots. Initially Wisynco introduced a double-shift system to keep up with growing demand, and when that still was not enough, expanded to three shifts.
True Juice orange juice bottled by Wisynco
Growth continued even during the 1970s when Wisynco required 60,000 square feet of production and warehouse space in order to supply the Jamaican market with its expanding range of products.
Wisynco started production of cups and containers, in the old offices at West Indies Synthetics, Twickenham Park being brought into use as the thermoforming hall. In 1996, the company borrowed US$3 million and set up a 10,000 square-foot carbonated soft drink manufacturing plant and the start of BIGGA Soft Drink. In 2000 Wisynco introduced its own brand of purified artesian well water WATA to the Jamaican market.
in 2006, Wisynco began distributing Coca-Cola products on a non-exclusive basis.
Wisynco, recently opened its new distribution centre after fire gutted its Lakes Pen, St Catherine warehouse last year May. Chief Executive Officer Andrew Mahfood anticipates that the US$2 million ($2.6 billion) investment in the 360,000-square-foot distribution centre will further position the company to move aggressively after the export market. In fact, Wisynco plans to build a new beverage plant valued at US$8 million over the next six months to increase production numbers by 50 per cent as the company seeks to take on the Caribbean market.
IC Insider.com has been reliable advised that the company is estimated to have a market value around $38 billion at approximately the current average PE of the market. At this valuation when listed would rank as one of the largest company c on the exchange several bigger than any Junior Market company and about two thirds the size of Grace Kennedy and several times bigger than Jamaica Producers. NCB Capital Markets is said to be the brokers to the offering.
n contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Honey Bun ended trading 900 stock units at $4.90, Jamaican Teas traded 4,000 shares at $4.10, Jetcon Corporation closed 12 cents higher at $4.80, with 43,613 units, Knutsford Express ended at $14.80, with 6,670 stock units changing hands. Caribbean Cream settled at $5.80, with 143,951 shares, Lasco Distributors traded 40 cents higher at $7.60, with 402,523 units, Lasco Financial traded 10 cents higher at $4.50, with 184,129 shares, Lasco Manufacturing concluded trading 25 cents higher at $4.45, with 404,812 stock units. Main Event traded 58 cents higher at $5.60, with 92,886 units, Paramount Trading traded 3,452 shares at $3, Stationery and Office closed with a loss of 6 cents at $5.30, with 14,649 shares and tTech settled with a loss of 45 cents at $7.05, with 14,751 units.
valued at $359,339. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Honey Bun concluded trading at $4.90, with 1,000 stock units, Iron Rock closed 1 cent higher at $3.21, while exchanging 5,698 units, Jamaican Teas ended trading at $4.10, with 54,000 shares, Jetcon Corporation traded with a loss of 12 cents at $4.68, as 39,000 stock units were exchanged. Knutsford Express closed with a loss of 19 cents at $14.80, with 5,585 units, Lasco Distributors closed at $7.20, with 629,096 units changing hands, Lasco Financial finished trading 4 cents higher at $4.40, with 29,060 units, Lasco Manufacturing finished trading with a loss of 30 cents at $4.20, with 56,941 units. Main Event ended with a loss of 28 cents at $5.02, with 35,000 shares, Paramount Trading traded 10 cents higher at $3, with 31,990 stock units, Stationery and Office concluded trading with a loss of 11 cents at $5.36, with 18,344 shares, tTech settled with a loss of 10 cents at $7.50, with 10,536 stock units and in the junior market preference segment, Derrimon Trading settled 5 cents higher at $2, with 8,726 units.
The Junior Market on Friday closed for the 10th consecutive day with unbroken gains leading the market index climbing 37.73 points to close at 3,143.71 with 21 securities changing hands compared to 18 on Thursday. 
The average volume and value for the month to date amounts to 75,683 units valued at $359,339 and previously, 78,762 units valued at $374,030. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Caribbean Producers traded 1 cent higher at $3.71, with 69,888 units being traded. Derrimon Trading ended at $7 with 2,000 units, Express Catering finished trading with a loss of 30 cents at $4.65, with 56,588 stock units trading, General Accident ended trading 10 cents higher at $3.20, with 16,450 units, Honey Bun closed with a loss of 10 cents at $4.90, with 4,891 stock units changing hands. ISP Finance dropped $2.30 to $16.20, with 10,000 units, Jamaican Teas concluded trading at $4.10, with 5,100 shares, Jetcon Corporation finished with a loss of 5 cents at $4.80, with 3,154 shares trading, Lasco Distributors closed with a loss of 24 cents at $7.20, with 11,850 units, Lasco Financial ended with a loss of 4 cents at $4.36, with 51,742 stock units. Lasco Manufacturing closed at $4.50, with 14,800 units, Main Event traded 20 cents higher at $5.30, with 166,999 shares, Medical Disposables traded 25 cents higher at $5.75, with 1,471 stock units, Paramount Trading settled with a loss of 10 cents at $2.90, with 124,400 units being exchanged and Stationery and Office settled with a loss of 3 cents at $5.47, with 1,986 units.
$238,441 on Tuesday. The average volume and value for the month to date amounts to 76,654 units valued at $352,768 compared to 76,654 units valued at $352,768 previously. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Iron Rock ended trading 5 cents higher at $3.20, with 45,000 units changing hands, Jamaican Teas gained 10 cents to close at $4.10, with 36,329 units trading. Jetcon Corporation settled 5 cents higher at $4.85, with 10,582 shares, KLE Group concluded trading with a loss of 30 cents at $2.50, with 265,000 units changing hands, Knutsford Express closed at $14.80, with 2,150 stock units, Lasco Distributors ended trading after rising 20 cents to $6.70, with 56,917 shares, Lasco Financial closed at $4.20, with 107,352 stock units trading. Main Event traded with a loss of 20 cents at $5.10, with 34,220 shares, Paramount Trading settled with a loss of 10 cents at $2.90, with 9,027 stock units, Stationery and Office ended at $5.50, with 8,544 units trading and tTech added 50 cents to close at $7.55, with 9,320 shares changing hands.
Trading on the Junior Market of the Jamaica Stock Exchange ended on Tuesday with 15 securities changing hands, resulting in an exchange of 655,302 units valued at $3,576,610.
amounts to 76,654 units valued at $352,768 compared to 78,395 units valued at $358,806 previously. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Express Catering ended trading at $5, with 48,599 units. Honey Bun finished at $5, with 16,575 stock units, Jamaican Teas concluded trading with a loss of 10 cents at $4, with 55,840 units, Jetcon Corporation lost 5 cents to finish at $4.80, with 13,566 shares, Knutsford Express settled with a loss of 19 cents at $14.80, with 20,230 shares trading. Lasco Distributors ended 1 cent higher at $6.50, with 84,181 stock units, Lasco Financial concluded trading at $4.20, with 104,660 shares, Lasco Manufacturing ended at $4.20, with 75,084 shares changing hands, Main Event closed 5 cents higher at $5.30, with 32,710 shares, Medical Disposables finished at $5.50, with 8,000 shares and Stationery and Office concluded trading with a loss of 10 cents at $5.50, with 182,772 shares trading.
At the close of the market, Access Financial closed 80 cents higher at $42, with 15,853 shares changing hands, AMG Packaging added 9 cents to end at $3.49, with 135,101 units trading, Cargo Handlers finished $1 higher at $11, with 415 units, Caribbean Producers traded 5 cents higher at $3.70, with 182,833 units. Eppley closed with a loss of $1 to end at $11, with 5,000 shares changing hands, Express Catering ended trading with a loss of 10 cents at $5, with 433,774 units trading, General Accident traded at $3, with 172,114 stock units, Honey Bun jumped 60 cents higher to $5, with 11,449 shares, Iron Rock ended trading at $3.15, with 5,000 shares. ISP Finance ended 50 cents higher at $18.50, with 2,500 units, Jamaican Teas ended at $4.10, with 60,447 units trading, 
Jetcon Corporation concluded trading 9 cents higher at $4.99, with 115,923 stock units having been exchanged, KLE Group rose 30 cents higher to $2.80, with 40,000 shares, Knutsford Express finished with a loss of 1 cent at $14.99, after 20,350 units were exchanged. Lasco Distributors traded 5 cents higher at $6.30, with 162,000 shares, Lasco Financial traded 6,955 units at $4.20, Lasco Manufacturing traded at $4, with 42,484 units, Main Event ended trading 21 cents higher at $5.57, after just 3,190 units changed hands, Medical Disposables settled 76 cents higher at $5.50, with 8,800 shares. Paramount Trading rose 40 cents to $3.20, with 2,825 units, Stationery and Office climbed 50 cents to $5.50, with 62,599 shares, tTech ended trading at $7.05, with 18,000 stock units changing hands and in the junior market preference segment, Eppley finished at $6, with 8,035 stock units trading.
Trading on the Junior Market of the Jamaica Stock Exchange closed trading on Wednesday with 16 securities changing hands, resulting in an exchange of 1,087,963 units valued at $5,258,148, which is much improved compared to 462,606 units valued at $2,337,749 on Tuesday. 
The average volume and value for the month to date amounts to 76,123 units valued at $327,928, previously 71,470 units valued at an average of $327,875. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
General Accident ended at $3, with 705 units, Honey Bun settled 30 cents higher at $4.30, after trading 4,000 shares, Jamaican Teas settled at $4.10, with 122,528 units, Knutsford Express finished trading with a loss of 1 cent at $14.99, with 5,060 shares, Lasco Distributors ended trading at $6.30, with 11,761 shares, Lasco Financial finished with a loss of 5 cents at $4.20, with 19,763 shares, Lasco Manufacturing ended trading with a rise of 35 cents to $4.20, with 3,316 shares, Main Event closed with a loss of 15 cents at $5.15, with 6,653 stock units, Medical Disposables traded 14 cents higher at $4.74, with 1,071 units, Stationery and Office ended 3 cents higher at $4.83, after 692,137 shares changed hands, while tTech traded 5 cents higher at $7.05, with 14,031 units and in the junior market preference segment, Eppley concluded trading with a loss of 55 cents at $6, with 60,800 stock units.
Trading on the Junior Market of the Jamaica Stock Exchange finished on Friday with 15 securities changing hands, resulting in an exchange of 2,090,829 units valued at $10,875,161 compared to 969,013 units valued at $4,496,741 on Thursday. 
In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Jetcon Corporation fell 50 cents to $4.50, with 50,064 shares. Key Insurance finished with a loss of 50 cents at $3.50, with 194,997 units traded, KLE Group settled at $2.50, with 250,000 units, Knutsford Express traded 11 cents higher at $15, with 202,982 stock units, Lasco Distributors finished trading 35 cents higher at $6.35, with 282,987 shares, Lasco Financial closed with a loss of 50 cents at $4, after 47,769 units traded, Lasco Manufacturing ended 5 cents higher at $3.80, with 86,540 units. Main Event ended trading 15 cents higher at $5.30, with 18,799 stock units changing hands, Medical Disposables concluded trading with 2,000 shares at $5.30, Paramount Trading got a lift from the first quarter results showing profits more than doubling and finished 30 cents higher at $2.80, after 458,395 shares were traded and tTech finished trading with a loss of 1 cent at $6.99, with 50,000 units.
The Junior Market of the Jamaica Stock Exchange settled on Thursday with 20 securities changing hands, resulting in an exchange of 969,013 units valued at $4,496,741 compared to 827,619 units valued at $4,771,002 on Wednesday. 
Trading ended with the market sentiments looking mixed for Friday’s trading activity with 1 stock ending with the bid higher than their last selling price and 2 with lower offers.
General Accident traded 30 cents higher at $3, with 2,125 units, Honey Bun finished trading with a loss of 20 cents at $4, with 15,101 units, Jamaican Teas ended trading 9 cents higher at $4.10, with 31,362 stock units, Jetcon Corporation concluded trading at $5, with 12,000 shares changing hands, KLE Group settled 10 cents higher at $2.50, with 2,730 stock units.