Havells Sylvania closes a division in Costa Rica

The multinational company closed the starter area, resulting in the loss of 200 jobs.

Friday, February 6, 2009

According to the article on elfinancierocr.com: "The move is related to the global financial crisis and the negative effect that it has had on the fluctuation of demand by consumers, the fall in the global economy and the shift in the business panorama."

More on this topic

Another Food Industry Company Leaves Costa Rica

May 2016

Mondelēz International is closing its operations causing businesses in the productive sector to reaffirm their concern over the country's loss of competitiveness.

From a statement issued by the Costa Rican Chamber of the Food Industry:

CACIA receives with concern news of Mondelez plant closure

3.400 companies close their doors in Guatemala

October 2009

By the end of September 3.445 companies have stopped operating, representing a 15% increase compared with the same period of 2008.

The Superintendencia de Administración Tributaria (SAT), the tax and revenue service in Guatemala modified the necessary steps that a company needs to follow in order to close its doors, with the purpose of easing the procedure.

Sylvania invests in New Equipment in Costa Rica

April 2009

The company is betting on increased sales to Europe and the US with a $1 million investment.

The goal is to increase competitiveness in order to cope with the crisis which forced the company to lay off 200 employees in February. Moreover, the new facilities are environmentally friendly, having added a treatment plant for water used in the industrial process.

Cone Denim Textile Factory Closes in Nicaragua

March 2009

The closing of the U.S. company because of the economic crisis sends 800 workers to the ranks of the unemployed.

The company, which had announced a temporary closing for a couple of weeks, requested a temporary closing of 14 months from the Ministry of Labor.

The Elnuevodiario.com.ni website published: "The board of directors of Cone Denim Nicaragua, located in Ciudad Sandino, confirmed the information through a press release in which they explained that the decision to close operations in the country was made due to the global economic crisis and the slowdown in the supply chain."

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