New Textile Company in Nicaragua for $25 million

The U.S. company Millknit Industries is to produce fabrics for the maquiladora industry, beginning operations in the first quarter of 2013.

Tuesday, December 18, 2012

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 country has no textile companies, and the only one that they had, Cone Denim, closed in March 2009, after operating for less than a year", added Baltodano.

"Millknit will mark the start of fabric manufacturing for clothing companies established in the free zone sector of the country. Once fully operational this will generate about 270 jobs", reported Spanish.china.org.cn.



More on this topic

Nicaragua: Reopening of ex Cone Denim Plant Confirmed

October 2013

With an investment of $35 million and under the name Pride Denim Mills the textile the plant will restart operations in early 2014.

The textile company, which was acquired by Grupo Karim’s de Honduras announced the creation of "600 jobs to produce about 28 million yards of denim a year, which is the production capacity of the plant," noted an article in Laprensa.com.ni.

Woven Fabric Production in Nicaragua

November 2012

Millknit Industries will begin operations in early 2013, producing fabrics for clothing companies established in the free zones.

Following the closure of Core Denim in 2009, Nicaragua has had no cloth production, which is a disadvantage for the clothing sector, which has to import its raw materials.

Cone Denim Is For Sale

January 2012

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.

Textile Cone Denim Reopens in Nicaragua

January 2011

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.

 close (x)

Receive more news about Business and Investment

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Gluten-free food business for sale

Operating Company dedicated to the manufacture of gluten-free and sugar-free products, OHNE brand.
The OHNE brand has 8 product lines: square bread, sweet...

Companies

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Feb 28)
Brent Crude Oil
50.84
Coffee "C"
109.8
Gold
1,644
Silver
17.570