Paramount Jamaica Trading yesterday officially opened its $600-million world-class lubricant plant, which will supply API certified lubricants initially to the local market.

Plans are already in place to expand supply to the Caribbean market shortly. Construction of the plant, which began two years ago, was done in partnership with world renowned lubricant manufacturer, Allegheny Petroleum Products Company out of the USA.

The products that are being manufactured by the plant, located at 39 ¼ Waltham Park Road in Kingston, include engine, transmission, hydraulic and circulating oil. The plant has a capacity of producing 220,000 gallons of blended oil per day.

The plant also offers oil analysis, technical and engineering services. Paramount, which is listed on the Junior Market of the Jamaica Stock Exchange, has been in business for more than 28 years and is the industry leader in the distribution of chemical raw materials in Jamaica, and is the local distributor of Sika construction products and Allegheny Petroleum oil and lubricants.

Speaking at the opening ceremony, CEO of Paramount Trading, Hugh Graham highlighted the fact that his company is now locally producing lubricants rather than importing finished products from its business partner, Allegheny plant in America.

Graham said, “I strongly believe in the mantra, ‘Buy Jamaica, grow Jamaica and build Jamaica’,” thus he is excited about providing products and services to the Jamaican market that are made locally.

“I can confidently state that we are taking Paramount to new heights and we are more than capable of meeting the demands of our existing customers and are also in the market for new customers. Our products and services are of a First World quality standard,” Graham declared.

He told the large gathering of petroleum interests and business leaders that the idea to construct the lubricant plant in Jamaica originally came from his business partner, Jim Kudis, CEO of Allegheny, who floated the idea during a business meeting they had two years ago, pointing out that the relationship between both companies has been strong since the beginning more than six years ago.

For his part, Kudis emphasised that the Paramount plant is top of the line and possesses the same technology and technical expertise as his plant in the USA, which prides itself on the quality of the lubricant products it produces. He explained that the technology now being used at the Jamaican plant was duplicated from the Allegheny outfit, which is the biggest supplier of lubricants to the American Government.

Kudis asserted, “Paramount will be a leader in the island for petroleum products…there is no doubt that there is a bright future ahead with Allegheny’s high-quality materials and Paramount’s excellent manufacturing capabilities and operations.” He also promised to provide the plant with the latest technology support.

According to Kudos, “we will stand with them and we are happy to apply a cutting edge technology of a First World standard that will be providing to the Jamaican market”.

The opening ceremony was well attended by members of the private sector and featured a keynote address by Industry, Commerce, Agriculture and Fisheries Minister Audley Shaw, remarks by Opposition Leader Dr Peter Phillips and president of the Jamaica Manufacturers and Exporters Association, Richard Pandohie.

Allegheny is a privately owned company founded in 1987 by Kudis and his wife. The company manufactures and distributes industrial lubricants and additives resources to thousands in the USA and throughout the world, and has a wide range of clientele inclusive of the United States military and Alcoa Internationals.

Allegheny is one of the largest fuel additive manufacturers in North America and is a member of the Independent Lubricant Manufacturers Association and the Society of Tribologists and Lubrication Engineers.