Following an increase in production, AMG Services Packaging and Paper Company brought it's profits to $12.2 million, tripling earlier quarters.
Madison, WI -- (ReleaseWire) -- 10/08/2013 --A recent report in the Jamaica Gleaner reveals that packaging and paper company AMG Services recently tripled it's quarterly profits, reaching $12.2 million dollars in profits thanks to an increase in production capabilities. The company acquired an additional 10,000 square feet of space that brings the size of it's Kingston factory and plant facilities to 30,000 square feet. The additional capacity lead to a 24 per cent increase in production, according to the AMG Services general manager Micheal Chin.
The recent article in the Jamaica Gleaner reports that AMG brought it's six month revenue to surpass $204 million, with a profit of $29.6 million. In addition, the expanded warehouse space added $62.9 million in fixed assets to the company.
General manager Micheal Chin stated in the recent report that the new warehouse space lead to increased profits by increasing efficiency and decreasing losses through damages. Chin cited the case of bay and forklifts that can now be used to unload containers in minutes by one operator, as opposed to previous configurations that required four or five operators.
According to the Jamaica Gleaner, AMG Services is currently operating at 60% capacity with two shifts, but the company intends to begin running a third shift by the end of 2013. AMG Services Packaging was founded in 2005 and was brought public in 2011. Originally the company serviced 20 clients and now has over 500 clients. The company claims to have 40% of the corrugated cardboard market, and is working on plans to move into paper products, including paper towels and napkins.
AMG Services is a rapidly growing supplier of corrugated, packaging and paper products based in Kingston, Jamaica. AMG Services provides corrugated products to nearly half of the world market.