Grupo Melo inaugurated an industrial plant for the production of meat and vegetable sausages in Juan Diaz, district of Panama, with a total area of 5,600 square meters.
For the plant, which has 4,000 square meters of operating area and 1,662 square meters of storage space, the business group invested close to $17.2 million.
In 2016, regional maize imports totaled $763 million, 26% of which was imported by six companies in Costa Rica, El Salvador and Panama.
Figures from the information system on the the Corn Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with the chart"]
Not only fast food franchises are growing, but also hospitality ones.
For example, during the first six months of 2013, seven Friday's restaurants, established in the country and run by the local group UNESA, recorded revenues of $9 million. Although some of these facilities reported low sales, the company says it is due to the stabilization of consumers, the time of year and other factors.
With the industrial sector leading the way, Panamanian companies are increasingly going to the local stock market for their financing.
"According to the registry of the Superintendency of Securities Market (SMV), up to early May there were $440 million in securities belonging to different companies, and another $1.033 billion were in the process of being registered," noted an article in Laestrella.com.pa.
The Panamanian conglomerate reported sales of $60.9 million for the first quarter of 2009, 4.8% more than the same period in 2008.
The Poultry Farms and Restaurant divisions were those which reported increases in their sales, not the real estate division.
Reporter Edith Castill Duarte writes in her article for Prensa.com: “Grupo Melo is advancing its plans to go into Colombia in the restaurant industry with its chain Pío Pío, and hopes to formalize the plans by the end of the year. The vice-president of finances, planning and treasury, Eduardo Jaspe, said that the division is operating within budget, and that they are in the process of opening seven new restaurants for the local market in distinct points throughout the city.”
The conglomerate reported sales of $263.5 million for the fourth quarter of 2008, up 21% over the same period in 2007.
The Panamanian group reported its quarterly results to the National Securities Commission which stressed that all departments of the Group, except for timber and real estate had sales increases of more than 10%.
The Panamanian restaurant chain Pío Pío plans to sell its franchises in Colombia.
The company has 47 restaurants in Panama. It is part of Grupo Melo, a vertically integrated poultry company whose exports to various countries, including Colombia, total more than four million dollars per year.
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