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Mid-Pac makes $2M expansion
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Posted on Nov 21 2006
While most businesses are downsizing operations due to the sluggish economy, others are taking risks, expanding their operations in the islands.
Mid-Pac Micronesia, for instance, has began its $2 million new facility construction, located at the corner going to Price Costco in San Jose village.
“We are relocating to a new and bigger facility,” said Mid-Pacific Micronesia manager Satya V. Vallabhaneni in an interview Monday.
He said the new facility, set to be completed in mid-February 2007, is three times bigger than its current location on Middle Road.
Mid-Pac Micronesia, a division of Bisnes-Mami Inc., sells automotive parts, heavy equipment, and chemicals.
“Our operations are not enough here so we’re moving to a bigger venue,” said Vallabhaneni.
He said the new facility will feature a state-of-the-art service center.
Mid-Pac Micronesia has six stores on Guam, one on Saipan, one on Rota, and one in Palau.
The store began operations in Guam and Saipan in 1970 “to provide a wide variety of automotive parts at affordable prices.”
In 1993, it was sold to its current owner, Guam-based businessman M.K. Rao.
Yumul’s new building
Another business group, the Yumul family, which owns several businesses such as YCO Hardware, Liberty Plaza, and Jollibee, among others, is also forward looking in its business strategy.
Seasoned businessman Jess Yumul is constructing a new commercial building along Beach Road in Garapan.
The new building is expected to be completed in January next year.
“Instead of just having an idle land, we decided to develop it while the economy is weak,” said Yumul.
He said the building will be named JK building which stands for his name and his wife’s name, Kai.
It will be open to vendors who are into professional services such as legal, insurance, dental and medical services.
