With no details regarding the amount of the transaction, Coca-Cola FEMSA announced the sale of 100% of its stock interest in the Panamanian dairy company Estrella Azul to Panama Dairy Ventures, Ltd.
The transfer of the shares became known after Coca-Cola sent a communication to the Mexican Stock Exchange, a document that specified some of the details of the transaction.
Industrialists will have the opportunity to supply vessels which cross the isthmus with locally manufactured products such as food and beverages.
Maximum Gallardo, leader of the Union of Industrialists of Panama (SIP), believes that the expansion of the Canal will generate exciting opportunities for manufacturers who will be able to supply their products to the ships that will use the new waterway.
Grupo Estrella Azul invested $20 million in a new production plant for processing and packaging beverages using a technology that gives products a long shelf life.
"The initiative by Grupo Estrella Azul to create a Tetra Top and Tetra Gemina (TT / TG) Plant, is part of its strategic plan to establish a platform for growth, based on the most advanced technology in order to develop food products that meet the needs of Panamanian customers and consumers " noted a statement from the company.
The Costa Rican company announced expansion plans in Honduras, the Dominican Republic and Panama.
The arrival of firms Lala, Femsa and Casaluque into the regional market influenced the company´s decision. Jorge Pattoni, manager of Dos Pinos, preferred not to talk about the type of investments to be made but said the company will not be sold and will further strengthen to compete in the regional market.
The dairy produce company will invest between $60 and $80 million in this project, according to Panama America.
Frank Tedman, head of operations for the company known for its Estrella Azul ("Blue Star") brand, told the newspaper that the factory's design and layout had been finalized and the methods chosen for processing the milk.
He indicated that Industrias Lácteas is now awaiting authorization from Panama's National Environment Authority (ANAM in Spanish) to begin the works planned.
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