Grand Bay International acquired equity of Panamanian company Papelera Istmeña SA.
Without providing details of the negotiation, Javier Miró, manager of Papelera Istmeña SA (Papisa), said the alliance will meet company growth locally and regionally.
Prensa.com reports, "Part of the strategy is that Papisa will cover the Northern Central American market, while the operation in Guatemala is responsible for the southern part of the region."
About 3600 tons of garbage end up being buried in landfills every day in Panama, and 90% of this waste could be recycled, turning trash into cash.
According to environmental experts, 90% of this waste could be recycled, turning trash into cash. And there are several Panamanian businessmen taking advantage of it.
There are many examples of the business: from obsolete computer equipment, in which they remove the chips and cards sent to the U.S., where it is processed and small parts containing gold removed; to paper, paperboard, plastic containers, packaging and even home appliances.
No details were given for the cancellation of the merger between the Panamanian Papelera Istmeña S.A. and the Colombian Group Productos Familia.
The January 2008 announcement of the merger, which included the selling of 50% of the Panamanian Company’s stock, was aimed at boosting sales in the Central American and Caribbean market in the face of competition from transnational companies.