Panamanian Government Will Liquidate Coosemupar

Ipacoop, Panama’s cooperatives authority, decided to liquidate Coosemupar.

Wednesday, February 10, 2010

Coosemupar, a Banana growing cooperative intervened in 2004 for administrative irregularities, was looking for a company to acquire or invest in it.

“However, no company made a proposal that satisfied all the requirements”, reported Prensa.com. “As of now, Coosemupar is unable to comply with its obligations due to cash flow problems”.

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More on this topic

Chiquita Brands Wants to Return to Panama

June 2013

Both Chiquita and Del Monte are participating in the auction of 3,100 acres that were part of the former grounds of the now defunt Coosemupar

Both companies are in talks with the Government and former employees of Cooperativa de Servicios Múltiples de Puerto Armuelles. A report by Ana Giselle Rosas de Vallarino, executive director of the Panamanian Autonomous Cooperative (IPACOOP) has revealed that with the money from the auction, the government will have to pay $17 million as payment of the worker-employer fee and other debts to suppliers .

Panama: $55 Million to Reactivate Banana Plantations

July 2010

Russian-owned JFC Group has presented a proposal to resume operations at Coosemupar’s plantations.

The three-year investment plan in the Puerto Armuelles cooperative (Coosemupar) located on Panama's Pacific Coast will look to renew the plantations, develop new irrigation and improve packing systems.

Bids Invited for Coosemupar

December 2009

The company chosen to invest and develop Coosemupar's banana growing assets will be announced on December 22nd.

Interested companies can request the bidding rules between December 2nd and 4th, at the offices of Coosemupar (Cooperativa de Servicios Múltiples de Puerto Armuelles R.L.).

Panama: 6 Proposals to Reactivate Coosemupar

November 2009

The name of the company that will invest in reactivating Coosemupar's banana plantations will be known before December.

The submitted proposals will be analyzed by Victor Pérez, Agriculture Development Minister, together with members of the Panamanian Autonomous Cooperative Institute.

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