German company will invest $12 million in Nicaragua

Dräxlmier confirmed on Friday that it is interested in investing in a car factory that would provide employment for a 1000 Nicaraguans.

Friday, October 10, 2008

Businessmen, Hans Romper, executive vice president of the German company, Franz Haslinger, manager of electric operations, Chistoph Kriegl, company lawyer and Uldrich Eichler and Stefan Bude, president and vice president of North American operations, delivered their letter of intent to start operations in Nicaragua to the vice president of Nicaragua, Jaime Morales Carazo,

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Dräxlmaier Automotive to Operate in Nicaragua

March 2009

The German autoparts company expects to start operations by year's end in a free trade zone.

In 2008, company representatives announced their intention to operate in the country, planning to generate 2,000 jobs.

According to the an AFP report published in mipunto.com, "Because of the crisis, the factory decided to open operations with only 1,000 workers in the city of Masaya, 26 km south of Managua," said Alvaro Baltodano, the executive secretary of the Free Trade Zones Corporation of Nicaragua.

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