MACORP’s Caterpillar expertise, scale and regional presence position the business for its next chapter

PORT OF SPAIN, Trinidad & Tobago, Thursday 01st October 2026 – Massy Holdings Ltd. announced today that it has entered into an agreement, subject to regulatory approval and other customary closing conditions, for Machinery Corporation Motors Limited (MACORP) to acquire Massy Machinery Ltd.’s Caterpillar-related line of business and related assets in Trinidad & Tobago.

MACORP brings significant scale, specialist Caterpillar expertise and a strong understanding of the Caribbean and Latin American markets. With established operations in Guyana, The Bahamas, Colombia, Turks & Caicos, Cayman Islands, Aruba, Bonaire and Curaçao, MACORP supports Caterpillar customers across multiple markets and serves sectors including mining, agriculture, road construction, industry, marine, forestry and electric power generation.

The agreement follows a careful strategic review of Massy Machinery Ltd. and how its different businesses are best positioned for the future. Massy regularly reviews its businesses and assets to determine how they can best grow, create value and provide opportunities for its people. In the case of the Caterpillar-related business, the review considered the scale, specialist expertise and regional reach that would best support the business over the long term.

“Caterpillar has been part of Massy’s story for nearly a century, and we are proud of that legacy,” said James McLetchie, President and Group Chief Executive Officer of Massy Holdings Ltd. “Our people have built this business, developed trusted relationships with our customers and represented both Massy and Caterpillar with dedication and professionalism. After careful review, we believe MACORP is a strong fit to take the business forward. They bring the Caterpillar expertise, scale and regional knowledge to build on what our teams have created.”

Mr. McLetchie added: “Our priority now is to support our people and our customers through this change.”

Massy is committed to managing this transition with care, respect and fairness. The company will honour all applicable commitments and provide practical support to help affected employees prepare for their next role. Employees will have the opportunity to be considered for suitable positions with MACORP and, where vacancies are available, elsewhere within the Massy Group.

The sale is expected to generate gross cash proceeds of approximately US$16 million. Massy also expects to record an accounting loss of approximately US$9.8 million related to the sale and reorganisation of the remaining business, with employee severance accounting for more than half of that amount.

This loss from the sale is separate from the cash proceeds Massy expects to receive. Both amounts remain subject to completion adjustments and finalisation of the assets and liabilities transferred.

Until the sale is completed, Massy Machinery Ltd. will continue to operate the Caterpillar-related business and serve its customers. Massy and MACORP will work closely to maintain continuity of service, including arrangements for customer contracts, warranties, parts, service and other ongoing commitments.

The agreement relates specifically to the Caterpillar-related line of business and associated assets. Alongside the proposed sale, Massy will align the remaining Massy Machinery businesses with operating structures that best support their activities and growth. This includes placing distribution-focused businesses within the appropriate distribution structure.

Completion remains subject to regulatory approval and other customary closing conditions. Massy will continue to communicate directly with employees, customers, suppliers and other stakeholders as the process advances.