During the course of the year, the U.S. textile company will restart operations in the country.
The start-up would initially create 700 new jobs.
"The secretary of the National Free Zone Commission (CNZF), Alvaro Baltodano, and executive director of the Nicaraguan Association of Textiles and Apparel (Anitec), Dean Garcia, confirmed to the press that the reopening of the company is underway and will become official in the coming weeks,” according to an article at Laprensa.com.ni.
The textile company, a subsidiary of International Textile Group, which invested $100 million in its plant in Nicaragua, now has three interested parties; meanwhile there are still plans to reopen its operations.
The U.S. textile company Core Denim, belonging to the International Textile Group (ITG), could resume operations in Nicaragua which were suspended in March 2009, informed the government, although there is still a chance that the company will be sold, which would imply a reassessment of these plans.
European investors are to acquire the Cone Denim Plant in Nicaragua, which has been closed for 3 years and could reopen in late 2012.
"It is a fact that this year the Cone Denim plant will be reopened. We're just waiting for the (purchase) negotiations to be completed," confirmed Dean Garcia, executive director of the Nicaraguan Association of Textile and Apparel Companies (Anitec), according to Laprensa.com.ni.
The Venezuelan Government is negotiating the purchase of 10 million jeans produced in Nicaraguan Free Zones.
A trade mission from Venezuela, which includes Government authorities and private businessmen, is touring Nicaragua’s free zones. Alberto Baltodano, technical secretary of the National Free Zone Commission (CNZF), remarked that this deal would imply $100 million in revenue for the textile sector.
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Industrias Gabriela is a non-woven textile manufacturing company located in Tegucigalpa, Honduras, Central America.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (504) 229-0072
Our mission is to help you in the process of sourcing your trims and notions for your Full Package programs or your CMT Contracts. And be your local supplier for those trims and notions needed in your programs.
Operates in Nicaragua, Honduras, Guatemala and El Salvador
Phone: (504) 617-0591 - (504) 6170592