The U.S. company and owner in Costa Rica of Cinta Azul has completed the purchase of Corporación Pipasa.
Bruce Burdett, president of Cargill Meats Central America, said in consultation with the newspaper La Nación, "We had plans to expand in the region and Pipasa has been one of our most saught after targets."
The Costa Rican company has agreed for the Stock Exchange Commission to revoke its registration, resolving an accusation of financial fraud.
In the elNuevoHerald.com it is reported that "Rica Foods, a poultry processor and feed producer based in Miami, and its former executive director resolved the case of financial fraud presented by the Stock Exchange Commission (SEC). "..."This case arose four years ago when Rica Foods, umbrella company for Pipasa, As de Oros and other poultry companies, was own by Costa Rican businessman Calixto Chaves."
Major companies in Costa Rica reported being willing to switch insurers when new competitors arrive.
Wal-Mart Costa Rica, Florida Ice & Farm and Pipasa Corporation, among others, admitted their interest to El Financiero in studying the products that other insurers might provide when they arrive to the country.
The challenge seeks to reverse authorization given for the US company Cargill to take over Pipasa.
Nicaragua's institute for protecting consumer rights presented the challenge, arguing that if the merger goes ahead, the resulting company will control 61% of the Nicaraguan poultry market, enabling it to undercut its competitors and force them out of the market, after which nothing would stop it from increasing prices at will.
At least ten companies are competing in a market where the amount of tons sold between 2008 and 2013 grew by 24%.
In Costa Rica, the market for sausages is fought over by at least 10 companies, where Corporación Pipasa, a subsidiary of Cargill International, is the largest participant. Whereas in 2008 20.2 tonnes of sausages sold in, 2013, 25 tons were sold in the country.
In order to comply with a condition imposed by Procompetencia for the purchase of Costa Rican Pipasa, Cargill is selling its Pollo Real brand at a base price of $580 thousand dollars.
Alfredo Velez, corporate vice president of Tip Top Industria, Cargill Meats Central America, told La Prensa that from today, 16 September 2011, an international tender will be opened, with a base price of $580 thousand, for the Pollo Real brand.
Increased competition and rising production costs are causing firms in the sector to revive their production processes with new plants, equipment and electrical systems.
The three companies which dominate 92% of the market for chicken meat and its derivatives are making significant investments to modernize their production processes in an increasingly competitive world where consumption has maintained a steady upward trend.
Costa Rica is the one of the best examples of what happens when obstacles like the coming and going between state paternalism and trade affect the social and economic development.
While receiving an award from the National Association for Economic Development for Freedom (ANFE) 2014, Juan Carlos Hidalgo gave a stark analysis of the Costa Rican situation, which highlights the apparent contradictions between sustained economic growth and the painful reality of growing poverty.
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