The fall in demand in the traditional markets of the Guatemalan industrial refrigerators factory, Fogel Group, led the company to venture into new markets such as Tanzania, Ghana, South Africa, Argentina and Chile.

An article in Elperiodico.com.gt reported: "’If our traditional markets are contracted, we must look for other markets, and it is feasible to find them even in the circumstances where we find ourselves. It does not have to be only one geographic market, but new segments where we were not participating,' said James Tefel Farrer, manager of Fogel Group, at the conference titled ‘Strategies to Address Changes in the Global Economy and Develop Business Opportunities'."

Source: elperiodico.com.gt

More on this topic

Panama Seeking Trade With West Africa

January 2016

The Panamanian government intends to set up an embassy in Ghana for commercial use as an entryway into the market in the West African subregion.

"... Panama has expressed its interest to Ghana in establishing a resident diplomatic mission in the capital, Accra, so that this nation can become its gateway to markets in the West subregion. "

Aquaculture: Business Opportunity

March 2011

In a world threatened by food crisis, aquaculture may be the solution and also an excellent business opportunity.

In the history of humanity, collection was the first way of obtaining food, followed by farming. However, the potential of agriculture appears to be nearing its capacity and we must seek other ways to produce food.

Fogel Ships Refrigerators to South Africa

June 2010

Guatemalan company Fogel has shipped a total 10.000 “froster” refrigerators to the African country; they will be used to cool Castle Lite Beer.

Said beer is manufactured by South African Breweries (SAB), who dominates 98% of the South African market.

On 2009, SAB ordered 5.000 refrigerators from Fogel, in preparation for the World Cup, and doubled the order on 2010.

It's a good time to start a business

February 2009

Here's what happens in bad times — disruption. Disruption means things change. When things change, there are opportunities. And entrepreneurs seize opportunities — that's what makes them entrepreneurs.

When times are bad for the economy, it can be a great time to start a business. In fact, 16 of the 30 companies that make up the Dow industrial average were started during a recession or depression.