New Holland, a company engaged in the manufacture of clothing and which has been operating in the country for 15 years under the free trade zone regime, announced that it will close operations in the last days of May.
The company's decision to leave Nicaragua is due to the fact that the country does not have the adequate technological machinery to compete with the garments it manufactures for the Under Amour, Nike and Adidas brands.
After the Nicaraguan company Astro Packing Solution announced an indefinite closure of its operations, local companies predict that packaging will become more expensive in the coming weeks and will be forced to look for new suppliers in neighboring countries.
In Nicaragua, Astro Packing Solution, a company involved in the manufacture of packaging and plastic products, notified its clients that it will close indefinitely due to a shortage of raw materials.
CentralAmericaData anticipated this scenario in mid-February. According to a publication dated February 15, due to the shortage of raw materials and the bottlenecks in the production of the inputs demanded by the plastics industry, businessmen in the region predicted that in the coming months the prices of the products manufactured by the sector would increase.
In the first quarter of 2020, just before the crisis generated by covid-19 began, there were 72,972 formal businesses registered in Costa Rica. In the second quarter the figure fell 6% and by September there was a slight recovery.
Data from the Costa Rican Social Security Fund indicate that between the first and second quarters of the year the number of registered companies fell from 72,972 to 68,946.
As a result of the closure of Grupo Lala's factory in Costa Rica, the 37 thousand liters of milk that 70 local producers sold daily to the company of Mexican origin were left without a buyer, however, Dos Pinos promised to acquire the product.
On December 1st Grupo Lala informed that it will close the milk plant that operates in the province of Alajuela. According to the company, the factory will stop operating on December 11th.
Because the company will focus on other markets, starting December 17, it will close the store that was engaged in the marketing of motorcycles and accessories of the American brand Harley-Davidson.
According to information provided by Red Motors, a company that sells motorcycles in the Costa Rican market, the closing of operations is because the brand plans to focus on 50 specific markets, especially in North America, Europe and parts of Asia.
Arguing that there is greater potential for sustainable and profitable expansion in Nicaragua and Guatemala, the Mexican business group dedicated to dairy production decided to close the operations of its production plant in Costa Rica.
The U.S. company, which still operates a plant in the country for the production of sandpaper and adhesive tapes, has begun the process of relocating its operations, which includes the closure of the factory operating in Heredia.
According to information released by the company, the closure of the industrial complex located in Santa Rosa de Heredia, follows a business strategy and is not a consequence of the economic crisis that generated the outbreak of covid-19.
Arguing that the decision is due to the commitment of the search of the profitability, from November 8 the Spanish company of transport by application will stop offering its services in Santo Domingo and Panama City.
As a result of a constant process of analysis of the markets in which it operates, the company has made the strategic decision to stop its service in both capitals, the company said in a statement.
After 20 years of operation, Modas B.I. Apparel, a company specialized in the manufacture of clothing, decided to close its doors due to the economic crisis caused by the outbreak of covid-19.
The company operated an industrial plant that employed 800 workers and was located at Kilometer 8 of the Atlantic Highway, in the jurisdiction of the Department of Guatemala.
In the context of the health and economic crisis in the country, some 54% of the country's companies have suspended work due to lack of market demand.
The results of a survey carried out by the Superior Council of Private Enterprise (COSEP) and the International Labor Organization (ILO), indicate that in this scenario of economic contraction, in the Nicaraguan market 33% of the companies surveyed have had to lay off workers and there are 40% who are also thinking of laying off workers.
Businessmen and authorities agreed that from June 16 will begin the reactivation of productive activities, and it is estimated that within 100 days the economy will be functioning at 100%.
After almost three months of restrictions to the mobility of people and the suspension of productive activities, derived from the outbreak of covid-19 in the country, agreements were reached at the Economic Reactivation Table.
Minera Panama filed a protection action, because since April 6 the Ministry of Health ordered the closure of the Donoso mining project, for reporting an outbreak of covid-19 among the company's staff.
The Ministry of Health (Minsal) suspended the activities of the mining project located in the province of Colon, after several workers became infected with covid-19 and two of them died from the virus.
For the time that the State of Emergency is in effect, the authorities ordered the paralysis of the activities of the production plant of the company ADOC, located in Montecarmelo, Soyapango.
On May 14, the company faced an inspection by the Ministry of Labor, in which seven inspectors, escorted by agents of the National Civil Police, a contingent of soldiers from the Armed Forces and reporters, demanded to verify the working conditions in the production of supplies for the emergency, the company reported.
Corporacion Camino Real, Radisson, Hyatt, Marriot, Adriatika, Hilton Garden and Holiday Inn are some of the large hotels that have suspended operations in Guatemala due to the health and economic crisis affecting the world.
As a result of the covid-19 outbreak, the Real Intercontinental Hotel suspended operations from April 1 and according to its managers, the reopening will depend on government regulations.
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