Lighting and energy company, FosRich has established an American subsidiary, as the first step in expanding its presence in the big US market.

FosRich in a regulatory filing with the Jamaica Stock Exchange, where it is publicly listed declared the incorporation of FosRich USA, Inc., which is being established with a view to pursuing various business opportunities in the United States.

The entity was registered in Delaware in the US northeast but will be operating out of Manhattan and will initially target projects in the tri-state area of New York, New Jersey and Connecticut. FosRich intends to tap into the minority-owned business market in the USA, where the federal government has set aside US$1 trillion to purchase products and services supplied by this business segment.