- Paying the bills -

Incesa Moves Costa Rica Production To Nicaragua

Loza-Costa_Rica-Guatemala_PREIMA20150205_0196_32TODAY NICARAGUA – Incesa Standard is moving its Costa Rica manufacturing operations to Nicaragua, generating more employment in the country.

The company said it is closing its Costa Rica plant due to high production costs, laying off 150 in that country.

“This is part of a process of modernization and expansion to remain a competitive company,” said Angie Ortega, an official press agent for the company in Costa Rica.

- payin the bills -

According to Ortega, in Nicaragua the company will be hiring more workers as production increases, but did not specify the number of employees it would be hiring.

“The company will be making new investments in both countries,” said Ortega.

For its part, the Multilateral Investment Guarantee Agency (Spanish: Organismo Multilateral de Garantía de Inversiones) will provide a guarantee the US$11 million dollars investment to the Colombian parent company, Corona, for the expansion and modernization of the Cerámica Centroamericana S.A., (Incesa) in Nicaragua, said the World Bank.

The MIGA guarantee is to protect against risk transfer restriction, expropriation, war or civil disturbance.

- paying the bills -

Corona acquired a majority interest in Incesa and American Standard in Central America. Founded in 1881, Corona is of one of Colombia’s largest conglomerates.

Related Articles

Already 29 opponents detained in Nicaragua as Ortega clears the way to the elections

TODAY NICARAGUA - One of the most prominent political analysts in...

2022: A Government with No Legitimacy

TODAY NICARAGUA (Confidencial) Last week, 629 of the 688 European Parliament...

MOST READ

- paying the bills -

Let's Keep This Going!

To be updated with all the latest news and information about Nicaragua and Latin America.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.