Salvadoran Textile Companies After Bailout

The survey conducted by the Textile Chamber (CAMTEX) among its members reflects the need for $25 million for the sector.

Monday, April 13, 2009

José Antonio Escobar, CAMTEX president, noted that the textile industry will seek a meeting with President-elect Mauricio Funes to inform him about the situation.

In statements reported by Laprensagrafica.com, the director noted: "We believe the new government has understood the priority that our sector needs. We hope to make an appointment with the President-elect to inform him about what is happening and what we are willing to do. The petition for a bailout of the textile industry should not be taken lightly because it would endanger companies and employees due to the absence of sufficient liquidity if it is not considered."

More on this topic

El Salvador: Textile Industry Lose Competitiveness

March 2017

The Salvadoran union has stated that excessive bureaucracy and high production costs are the main factors that could be encouraging some textile mills to reduce operations in the country.

José Antonio Escobar, president of the Chamber of the Textile Industry, Clothing and Free Zones of El Salvador (Camtex) told Elsalvador.com that one of the companies that has shut down part of its operations, to transfer them to another country, is Fruit of the Loom. Escobar said   "...'In the plant owned by Fruit of the Loom in the industrial park American Park, where a thousand people work, the company will make a reduction of about 850 positions'."

Textile Production in El Salvador Down

November 2012

From January to September this year the Salvadoran textile and clothing sector exported $792.4 million, 6.7% less than in the same period in 2011.

Elsalvador.com reports that "The production of textiles and clothing lost momentum in growth between January and September compared to the same period last year due to a slowdown in the U.S. economy and the fiscal crisis in Europe .

Salvadoran Textiles Export 22% Less

March 2009

The sector exported $103 million in January of this year, $31 million less than in January, 2008.

An article in laprensagrafica.com reported that Jose Escobar, president of the Salvadoran Chamber of Textiles and Apparel, said, "There is a drop in exports because some US companies had to stop production since late last year due to adjustments of accumulated inventories which caused demand in the country to come to a standstill."

Salvadoran Textile Exports Would Increase by 7%

March 2009

The textile sector foresees a 7% increase in exports for 2009, despite the economic crisis.

La Prensa Grafica published on its website: "However, according to businessmen in the sector, this prospect for growth might not be met due to local bank credit restrictions, not necessarily because of the fall in demand in the North American country.

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Variedades San José

Organization that operates in El Salvador.
Phone: (503) 2226 5052

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