The company has announced the launch of a new product line, Badesi, and an investment of $1.5 million in expanding one of its plants in Costa Rica.
Badesi is the name of the new ready-to-eat product line. Three new products have been launched initially but the company plans to bring out others during the course of the year, said Shirley Romero the company’s corporate communications director.
Costa Rica's government closed the case after ensuring that Calvo did not incur in dumping affecting the country's tuna industry.
El Salvador and Costa Rica ended the trade dispute which went on for more than a year for canned tuna exports from El Salvador to the Costa Rican market, announced Finance Minister Hector Dada Hirezi, who was accompanied during the press conference by company representatives from the CALVO Tuna Group.
Sardimar and Calvo Group are involved in a dispute over tariffs generated by the implementation of the multilateral treaty imposed by the US-Central America Treaty.
The Spanish-owned Calvo Group has a tuna processing plant in El Salvador from which it exports to Costa Rica - among other places - having paid the country a customs duty of 15% until January 2009, and afterwards taking advantage of CAFTA benefits by not paying the tariff for tuna in oil and paying 2.2% for tuna in water. This will obviously hurt the local sales of Costa Rican-owned Sardimar, which is protesting, stating that the situation violates the provisions of the General Treaty of Central American Integration since Calvo Group operates in a free trade zone in El Salvador and is exempt from most national and municipal taxes and Sardimar considers this a subsidy in disguise.
The Costa Rican fish and seafood cannery built a plant to purify the water it uses in its production process.
Sardimar, which consumes 1600 cubic meters of water, made the decision to invest in green technology in response to the characteristics of many American and European customers who, when buying products, take into account whether they are made with environmentally friendly processes.
Costa Rica exporters still have a lot of work to do in order to benefit from the FTA, despite the fact that since January 1st their products can enter the US with zero tariff.
A study on the exploitation of the CAFTA-DR that was published in the El Financiero weekly from Costa Rica points out that "six years after waiting for CAFTA, the tuna, textiles and ethanol sectors, which will benefit immediately from the agreement, will see the results little by little.
As a Holding Company we are interested in helping other companies to succeed. We do that by investing in other companies with capital and or professional help to allow them to grow in exchange for ownership.
Operates in Panama and Panama
Phone: (507) 7202158
Generates business opportunities by linking supply and demand of goods and services between Central America and the rest of the world.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (506) 225 4786