Matalon Homes, Tank-Weld create roofing company
The partners have put $540 million into the business, each footing 50 per cent of the cost.
A $200-million chunk of the start-up capital was spent on equipment and inventory with "the balance in land, offices and warehousing", said managing director Peter Matalon during the unveiling of the company on Thursday.
"We are quite confident (Matalon Roofing) will soon be the leading supplier of roofing solutions to Jamaica," he said.
Matalon Roofing will supply and install roofs under warranty. It will deal in stone-coated, metal and asphalt shingle, among other roofing types.
"We are looking to provide a turnkey roofing solution to Jamaica. How and how much of that market we take is up to us and our customers. Excellence will garner more market share. So as long as we fulfil our mission of being the leaders in terms of quality product, and install them, then the market will decide," he said, in response to queries on what market share the company was targeting.
Matalon Roofing is providing 76 jobs: 30 to be taken on for installation; 20 for sales; 10 each for transportation and production; and six administrative staff.
"Our main focus and advantage will be in the manufacturing and installation of standing seam continuous roofing," Matalon said, while touting the technology behind the company's equipment which guarantees leakproof roofing.
"We have invested significantly in state of the art technology and equipment," he said of the relatively new roofing technology to the Jamaican market.
The standing seam roofing features concealed fasteners where all clips that attach the product to the roof are hidden. No screws penetrate the panel during installation, leaving a cleaner finish, the developer said.
The roofing equipment provides customers "with the exact amount of material required for their roofing jobs, so they only pay for what they require," effectively removing wastage and leading to savings for customers, the roofing company said.
The roofing company will be housed on the grounds of Matalon Homes' Spanish Town Road complex. It occupies 600 square feet of showroom and office space, with a 15,000 square feet warehouse and manufacturing space.
Matalon said the birth of the roofing company was a natural progression, given the parent companies' roles in construction. Matalon Homes is a developer of real estate, while Tank-Weld trades in construction material.