$200 million for Honduran maquila

The Gildan firm which has been operating in Choloma, Cortes, for some 5 years now is expanding its activities and will generate some 4 thousand new jobs.

Tuesday, September 9, 2008

According to the maquila's representative on the Honduran Counsel of Private Companies (COHEP), Guillermo Matamoros, Gildan is one of the most serious companies in the world in this sector.
"This expansion demonstrates that despite the safeguards imposed by the United States against Honduran socks, the industry in Honduras has been able to respond to the challenges it faces in the international market," he pointed out.

More on this topic

Gildan announces plans to construct a third textile facility in Honduras

May 2008

In its 2Q report Activewear Inc. also said it plans to construct a third textile facility in Honduras, to support its projected sales growth beyond 2009.

The capital cost of the new facility, which will be constructed in fiscal 2008 and fiscal 2009, is expected to be in the range of $100 million to $110 million, the majority of which will be incurred in fiscal 2009, the company said.

Canadian Businessmen Visit Honduras

August 2009

A delegation of textile industry businessmen will visit the country the next week.

One of the members of the delegation could be the company Gildan, who has shown interest in investing in a new textile factory in the country.

Benjamín Bográn, Industry and Commerce Secretary, told Elheraldo.hn: "...a Canadian company intends to invest $52 million in the country, generating new jobs...".

U.S. levies 5% tax on Honduran socks despite FTA

April 2008

The United States has levied a five per cent tariff on imports of socks from Honduras. Although the levy is lower than local producers feared it would be, it is still surprising, given the presence of a free trade agreement between the two countries.

"The import tax that will apply to the importation of socks will be five per cent from July to December and will disappear in January 2009," the president of the Association of Maquiladoras of Honduras, Jesús Canahuati, told reporters.

US to impose tariff on Honduran sock imports

April 2008

The Bush administration decided yesterday to impose a 5 percent tariff on Honduran socks later this year after finding that imports of low-priced cotton footwear from Central America were hurting struggling sock makers in North Carolina and Alabama.

Though the move could temporarily improve U.S.-made sock sales by boosting the price of Honduran socks, smaller domestic sock makers called the gesture a sham that will do little to prop up their rapidly vanishing businesses.

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