Decorative concrete services company Amazing Concrete Finishes Limited (ACF) is moving to unleash its third wave of expansion projects, looking to add more than US$1 million in investments as it ventures into more markets locally and overseas.
The more than 10-year-old company, which first started operations from offices in Kingston, provides a range of decorative concrete finishes to a large number of residential and commercial clients in the real estate, tourism and hospitality sectors. Some of its larger portfolio clients include Chukka Adventures, Windalco, J Wray & Nephew, and Moon Palace Jamaica Grande among several others for which it installs decorative coatings on concrete surfaces including walkways, driveways, interior design areas, patios, decks, around pool areas as well as the construction of artificial rocks and waterfalls.
Following the launch of its second location in Montego Bay last week, the company's Managing Director Yannick Sharpe on Monday told the Jamaica Observer that Amazing Concrete is now plotting the delivery of its next set of projects as it positions itself to realise more objectives under its 10-year expansion plan, another round of which is expected to be ready by 2025.
"We are looking to spend about US$1 million on our upcoming projects in Guyana and locally in Mandeville â€” both of which are respectively timed for completion in June and during the latter part of 2023.
"Currently we are first looking to complete our local expansions before embarking on a wider regional takeover. Outside of Guyana we are also looking to enter markets in Trinidad, Belize, Cayman Islands, Turks and Caicos, St Kitts, and St Lucia. Once we complete these territories, our next focus will be on markets in the US, particularly in Florida," he told the Business Observer.
Now cementing plans to also partner with the HEART Trust on securing certification for a training programme, the entity also wants to build-out a training institute through which it hopes to offer skills training and increase job opportunities in the concrete finishes market.
Having just spent over $50 million to roll out its latest location in Montego Bay, where it has retrofitted a 400-square-foot facility complete with a showroom and ready-mix plant, Sharpe said the intent is to deliver islandwide coverage of its services, now being able to reach clients from the two major cities of the island. "We want the Kingston office to serve Portland through to St Catherine, while the Mandeville location will service Clarendon to Westmoreland as the MoBay location serves Hanover all the way to Ocho Rios."
"The Montego Bay location has in place a ready-mix concrete plant, which we do not have in Kingston. This will enable us to manipulate the concrete in many ways in terms of colour, texture, design and more," Sharpe said.
As the company begins to unleash portions of its larger expansion plan, its directors in increasing service quality also wants to further tap into potential sales from the growing decorative concrete market which, according to market reports, is projected to grow from US$15.4 billion to US$20.5 billion at a compound annual growth rate (CAGR) of approximately six per cent.
"Over the last few years our revenues have been growing between 80-100 per cent year-on-year and we want to keep that going," Sharpe stated.