Package-Manufacturing Plant Closes in Panama
Due to massive packaging imports from Colombia and Peru, Celloprint, a Panamanian plastic package-manufacturing plant, closed operations.
Monday, May 18, 2009
The company had been trying to save its operations for more than two years, struggling to curb imports of the product from Colombia and Peru. In 2007, the Panamanian company resorted to the safeguard mechanism, making the Ministry of Trade and Industry implement a tariff surcharge of 59.9% above the current tariff of 6%.
The Salvadoran government has attributed the closure of the plant to changes in the technical regulations applied by Mexico on imports of these products and the imposition of "discretionary criteria" by some authorities in that country.
In order to improve their competitiveness in the manufacturer of uniforms and baseballs Rawlings Costa Rica will move its uniform line to El Salvador, laying off 200 workers.
The closure of Maderin Eco, a subsidiary of the multinational pencil manufacturer, has been attributed to the continued and increasing difficulties in competitive wood supply.
Continental AG canceled the start of operations of the auto parts factory for Chrysler built in 2008 with $62 million.
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