Merger Between Paper Companies Canceled

No details were given for the cancellation of the merger between the Panamanian Papelera Istmeña S.A. and the Colombian Group Productos Familia.

Monday, March 30, 2009

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.

According to, "The Colombian group would transfer its technology to PAPISA to compete from Panama with TNCs such as Kimberly-Clark and Scott."

Papelera Istmeña S.A. (PAPIS) has a 60% share of the Panamanian toilet paper market with $70 million in gross annual sales.

More on this topic

Honduras Authorizes Sale of Lafarge to Argos of Colombia

December 2013

A ruling states that the already concentrated Honduran cement market will not be altered by the sale of shares to the Colombian company Argos.  

From a press release by the Commission for the Defense and Promotion of Competition (CDPC):

The Commission for the Defense and Promotion of Competition (CDPC) as part of its advocacy of free competition within the framework of its powers and in relation to economic concentrations, was notified about a project of economic concentration in the Cement Industry, involving the economic agents Cementos Argos, S. A de C.V. (buyer) and Lafarge Cementos S.A. Unipersonal (seller).

Holcim Sells Productos de Concreto Subsidiary

March 2012

The company justified its decision on its need to focus on its core business, cement production.

Information on the sale of Productos de Concreto was issued in a statement released by Holcim Costa Rica, although the company did not disclose the name of the firm that will acquire PC, which sells finished products.

Panama Paper Co. Merges with Venezuelan Group

January 2011

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. 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."

Kimberly Clark to invest $31 million in El Salvador

December 2008

This figure will be used to expand the plant located at Sitio del Niño, La Libertad.

The amount of the investment is $31 million and will be used to install a new machine to manufacture toilet paper and a factory that will prepare recycled paper paste.

The equipment will be installed and ready to function next August and will help to add 100 more employees to the payroll.

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