Textile Company Ends Operations in Costa Rica

The German company, Amoena, reported that it will close its operations in the country, arguing that its main textile suppliers moved their operations to Asia and need to get closer to that market.

Wednesday, May 29, 2019

The company is a producer of bras, bathing suits and other products for women who have suffered from breast cancer and underwent mastectomies.

See "Textiles: Regional Purchases up to September 2018"

In a statement issued by the Costa Rican Coalition of Development Initiatives (Cinde), the company explained that "... the decline is because of substantial changes in market patterns and business turnaround in recent years," in addition to ensuring that "... all procedures established by law will be respected and applied to their employees at the time of the end of an employment relationship."

Nacion.com reviews that "... The company reported that, during the past few months, began relocation work of employees in other companies."

Also see "Manufacturing: Costa Rican Exports Decreased 5%

The closure of this company is announced in the midst of an adverse outlook for the country's economy. In the first four months of the year, companies outside the free trade zone reported a 5% year-on-year drop in their sales abroad.

The cessation of operations joins the closure of Amway's Financial Shared Service Center in Costa Rica, because days ago it was reported that as part of a corporate strategy focused on fewer centers, but larger, decided to close the service center.

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More on this topic

Amway Announces Closure of Service Center

May 2019

The company reported that by 2020 will close its Financial Shared Service Center in Costa Rica, as part of a corporate strategy focused on fewer centers, but larger.

"While we will close this center, Amway remains committed to the Costa Rican market and will continue to provide support to our businessmen and customers, our commercial operations in Costa Rica will continue normally," states a company statement.

Manufacturing Plant in Costa Rica Closes

January 2017

The U.S firm Communications System has announced the closure of its plant manufacturing Suttle telecommunications equipment in Alajuela, so as to move the operation to Minnesota.

The company has operated the plant manufacturing traditional telephony and telecommunications since 1989. The decision to close the operation, for which it employed 113 people, is due to a reduction in the revenues from the line produced in the country.

Costa Rica Still Attracting Service Centers

March 2015

There has been an increase and there are now 122 international companies which have invested in the operation of 140 shared services in different categories.

Currently the export of computer services, management and other business functions make up 5.8% of Costa Rica's Gross Domestic Product (GDP).

Costa Rica's Textile Industry Dips

June 2012

Ten years ago there were 120 companies which employed 30,000 people, whereas today there are 60 companies employing only 8,000.

An article in Nacion.com highlights the bankruptcy closure of the Compañía Textil Centroamericana as a basis for analyzing the decay of a once very important productive sector in the Costa Rican economy.

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