Nicaraguan Textile Company Invests $3 Million

Istmo Textil Nicaragua has launched a new textile manufacturing facility where it expects to employ 2,500 people.

Thursday, September 9, 2010

The investment means that the company, backed by Korean capital, will look to achieve exports worth $120 million in 2010 and will employ a total of 5,000 workers.

Álvaro Baltodano, technical secretary for Nicaragua's free trade zone committee said that, "the South Korean investors expect to be able to increase the number of people employed to 7,000 next year and export $150 million worth of textiles," according to Laprensa.com.



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Koreans Invest in $28 Million Plant in Nicaragua

March 2012

The firm Hansae and a local partner will build new facilities for producing fabric in Niquinohomo, south of Managua, with capacity for 7,000 jobs.

A local company and the Korean textile firm, Hansae, will build on a total area of 70,000 m2 a new facility for a textile factory, which represents the extension of the Asian firm's investments in Nicaragua, said the president of Zona Franca SA Niquinohomo, Mario Zelaya.

More Investment in Textile Industry in Nicaragua

February 2013

Hansae, a textile company founded on South Korean capital, will later this month open the new "Gilberto Cuadra" industrial park, investing $12 million in equipment.

According to Joseph Adam Aguerri, president of the Superior Council of Private Enterprise (COSEP), the company will begin its work in late February in Niquinohomo, Masaya, generating initially one thousand jobs, however it is expected that in the next 90 days the number will rise to 3000.

Nicaragua: Reopening of ex Cone Denim Plant Confirmed

October 2013

With an investment of $35 million and under the name Pride Denim Mills the textile the plant will restart operations in early 2014.

The textile company, which was acquired by Grupo Karim’s de Honduras announced the creation of "600 jobs to produce about 28 million yards of denim a year, which is the production capacity of the plant," noted an article in Laprensa.com.ni.

Negotiations for Purchase of Cone Denim Textile Factory

April 2012

European investors are to acquire the Cone Denim Plant in Nicaragua, which has been closed for 3 years and could reopen in late 2012.

"It is a fact that this year the Cone Denim plant will be reopened. We're just waiting for the (purchase) negotiations to be completed," confirmed Dean Garcia, executive director of the Nicaraguan Association of Textile and Apparel Companies (Anitec), according to Laprensa.com.ni.

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PRONicaragua

PRONicaragua, is the Nicaraguan Investment Promotion Agency, established in 2002. We are a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The Agency provides complimentary support services to qualified investors seeking investment opportunities in our country.
Operates in Nicaragua
Phone: (505) 2270 6400

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