Arnecom Closes Auto Plant in El Salvador
Pointing to the global crisis in the automobile sector as the main reason, the company closed its plant in Santa Ana.
Wednesday, March 18, 2009
The facility, which employed 650 people, was devoted to assembling the electrical wiring system in vehicles.
At the Investment Forum "Grow Together", the automobile company Arnecorn announced the transfer of its a warehouse in Monterrey to Leon in Nicaragua.
Continental AG canceled the start of operations of the auto parts factory for Chrysler built in 2008 with $62 million.
A decision by Germany's Continental AG to invest in Costa Rica rather than Mexico shows that Costa Rica has got what it takes to become a regional leader of the auto industry, senior officials said.
Arguing that smuggled cigarettes account for up to 60% of consumption in Central America and because of excessive export regulations, the tobacco company has ceased its operations after 50 years of being in the country.
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