General Manager of Woodcats International, Peter Douglas, says the money generated from its initial public offer of 833 million shares will be used to increase pallet production by 30 per cent and automate 40 per cent of its processes by 2026.
The funds will also be used to expand its heat treatment capacity by 50 per cent in three years and to support its entry into the CARICOM market by the end of this year.
Speaking at an investor briefing on Thursday, Douglas also outlined the important role the company plays in the global supply chain and the country's growth potential.
He also made it clear that while pallets do not attract much attention, they are essential to the growth of the economy because of the roles they play in logistics, warehousing, food distribution, cold storage and manufacturing.
Woodcats plans to raise up to $750 million in the IPO.
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