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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Amway Announces Closure of Service Center

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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.

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