Paramount Trading signs new deal with Allegheny Petroleum

Paramount Trading signs new deal with Allegheny Petroleum

Friday, November 22, 2019

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Chemical company Paramount Trading Jamaica Limited announced on Friday (November 15) its Licence, Supply and Distribution Agreement with Allegheny Petroleum Products Company.

The license agreement permits Paramount to use formulae, trademarks and related know-how exclusively for the manufacture of certain Allegheny Petroleum lubricants in Jamaica with exclusive distribution rights to all member states of the Caribbean Community.

Paramount further advises that it has completed an Asset Purchase Agreement with Allegheny to acquire the right, title and interest for all the assets of Allegheny that were used in connection with, or necessary for the operation of the joint venture, located at 39 Waltham Road, in Kingston.

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