Three Tobacco Companies Close in Honduras

The closing of Raíces Cubanas and Tabacaleras Unidas tobacco companies, among others, in the communities of Danlí y Paraíso, has left 3,500 unemployed.

Friday, April 17, 2009

Miguel Angel Berrios, president of the Chamber of Commerce and Industry of Danlí said that the economic impact caused by the closing of these factories is still unknown.

In statements to, Berrios says: "We have seen the impact of the international financial crisis in the lack of purchase orders for Havana Cigars from cigar stores and customers in the United States, where 80% of the production of Honduran cigars goes. The industry provides employment for about 20 thousand people."

More on this topic

Costa Rica: Cement Factory Closes Due to "Legal Uncertainty"

April 2012

Conflicting decisions by the courts have discouraged investment by the firm Cementos David in Costa Rica.

The company Comcoas Inc. (Cementos David), has ceased operations on Monday, citing the "legal uncertainty" of the country.

Since opening in 2007, Cementos David has faced a number of law suits over its alleged illegal operation permits and environmental pollution, which were filed by residents of San Rafael de Alajuela.

Maquila Heads to Haiti from Guatemala

November 2011

Korean owned SAE International has announced it plans to close one its five factories in Guatemala due to a mix of poor sales to the USA and high Guatemalan labor costs.

The country's Economy Minister, Luis Velázquez, announced the closure of the plant saying that the company will be opening a new factory in Haiti where it will look to hire 20,000 people.

Nicaragua Hosts Tobacco Festival

November 2009

The "First Tobacco Festival 2009, Flavor and Aroma of Nicaragua", will take place on the first week of December.

The objective of the festival is to promote the country's tobacco industry both domestically and internationally.

Néstor Plasencia, president of the Nicaraguan Cigar Association, told " ...

Increase in Taxes on Imported Cigars to the US

April 2009

The increase could impact the tobacco industry in Estelí, Nicaragua, which generates about 25 thousand direct and indirect jobs.

Beginning today, the federal tax on cigars entering the United States is 40 cents.

The secretary of the Estelí Tobacco Association, Leonel Raudez, told La Prensa: "Cigar exports to the US increased by 7% since last year.

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