While some clothing manufacturers are leaving the country, Gildan has decided to expand its operations with a new plant.
Wednesday, July 13, 2011
The new plant in which the textile company Gildan will invest more than $6 million will be ready in 12 months, and will have the capacity to produce 1.5 million kilos of fabric per week, employing 1500 workers.
The decision to extend the program reflects the confidence the company has in the country, which contrasts with other companies in the industry who have chosen to settle in other markets, driven by the decline in competitiveness and increased production and labor costs .
An article in Laprensa.hn notes: "Marco Castro, Vice President of Finance at Gildan, argues that "investing in the country is a good alternative." They are not stopping significant investment because "we believe in human resources, we believe in the organizations that support the legal-judicial system and trust that there will be a way through the various laws which will allow the the maquila industry not to be affected."
Gildan's total investment in the five plants in operation is about $1,7 millon. The firm owns three textile plants with production capacity of 1.2 million kilos of fabric. It also has two plants that make socks that together produce 60 million dozen a year. "
The new plant, which a Honduran and Salvadoran consortium have started building in Choloma, will have capacity to produce 200,000 tons of synthetic yarn per year.
In the construction and commissioning of the plant manufacturing synthetic yarn, the company Unitexa has invested $73 million and it is expected that it will start operating within one year.
The U.S. company Millknit Industries is to produce fabrics for the maquiladora industry, beginning operations in the first quarter of 2013.
Operating in the industrial park Las Mercedes, the textile company will begin operations between January and February 2013, informed the technical secretary of the National Commission of Free Zones (CNZF), Alvaro Baltodano.
The textile company closed its 4 plants in Alabama, USA, and will transfer operations to its facilities in Rio Nance, Honduras.
The transition will involve the dismissal of about 300 workers in the United States, to be carried out in April of this year. The company expects to increase production up to 65 million dozens of socks in their two plants in Honduras.
A textile company will start operating from the country on March.
This was announced by Enrique Córdova, director of Proesa, the investment promotion agency of El Salvador.
"Córdova affirmed they are holding talks with other investors, and expect to land $150 million in foreign direct investment in 2010", reported Laprensagrafica.com.
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