The Guatemalan business group Solid, manufacturer of Paleta and Corona paint brands, will invest $20 million in a production plant in the Dominican Republic.
With the projected investment, the business group plans to distribute its Corona brand products in 12 stores and 500 hardware stores in the Dominican Republic.
Operations have begun at new Celco and Grupo Solid paint manufacturing plants, enabling new markets to be opened.
The increase in installed capacity is expected to lead to an increase in production. By 2012, the manufacture of 30 million gallons of paint are estimated to be possible, of which 8 million gallons will go toward national markets and the rest will be exported.
For the fourth consecutive year, the Periodico de Guatemala (the Newspaper of Guatemala) has held its regular investment forum where five of the most important businessmen analyze the business panorama.
The article published in elPeriodico.com says that "given the global economic situation, elPeriodico convened an investment forum with five of the most prominent businessmen and women.
The Solid - Lapco Group will invest in a new paint plant to supply the market in Mexico, Peru, Colombia, Dominican Republic and Puerto Rico.
The 4D multi-annual expansion plan is betting on the consolidation of regional leadership in all the segments of the paint market and the opening of new markets in southern Mexico, Peru, Colombia, Dominican Republic and Puerto Rico where they are analyzing mergers.
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