Eddie Ferenczi started duty free career in 1988 with GMI International, working in the distribution of fragrances and later tobacco. In 1991 he partnered with Jorge Azel Sr. and Jorge Azel Jr to launch the SMT group of companies.

In 1995 the group’s retail division was established with the concession for 11 tax free stores in the cruise ship terminals at the port of Old San Juan, Puerto Rico and at Aguadilla International Airport. A year later SMT began its cruise ship chandling division, supplying most major cruise lines with liquor & tobacco goods.

In 2012 SMT created its own logistics platform providing third party logistics services to importers and distributors in need of a Customs Bonded Warehouse, a Foreign Trade Zone, a State Bonded Warehouse and/or a regular domestic warehouse for their activities in the Caribbean, Central and South America, Canada and continental USA.