No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeTopicsBusinessCanadian textile company to open new plant in Costa Rica

Canadian textile company to open new plant in Costa Rica

Canadian company Gildan Activewear confirmed Friday morning in Montreal, Canada, that their next major investment will be the construction of a textile manufacturing plant in Costa Rica’s northwestern province of Guanacaste.

During a second quarter report to shareholders, company representatives said they chose Costa Rica based on its strategic location near Gildan plants in Nicaragua, its access to ports both on the Pacific and the Caribbean coasts, and the ease of accessing markets in the United States via CAFTA. Benefits from Costa Rica’s free zone regime also were determining factors.

Gildan’s decision followed several months of negotiations between the company and the Costa Rican Investment Promotion Agency (CINDE).

Total investment, location and an exact date for the start of construction were not disclosed, but the new Guanacaste facilities will create 1,000 new jobs for the province, CINDE said.

CINDE General Director Gabriela Llobet said Gildan’s operation here “will allow Costa Rica to join the global value chain of the textile sector in a very sophisticated segment.”

Company representatives earlier this week met with President-elect Luis Guillermo Solís at an event with leaders of 150 foreign companies with presence in the country. At the meeting, Solís said he would travel to the U.S. to court investors.

Gildan Activewear distributes products in the U.S. and Canada and is one of the largest suppliers of T-shirts, socks and underwear. In 2013, the company reported sales of $2.2 billion and 69 percent growth over 2009.

The company employs 33,000 workers at facilities in the United States, Nicaragua, Honduras and the Dominican Republic.

Trending Now

Costa Rica National Parks to Measure Tourism Impact

Costa Rica will now be able to measure the impact of tourism in its national parks, thanks to innovative environmental technology from The NeverRest...

Costa Rica Replaces One-Lane Bridges as Traffic and Population Grow

As the infrastructure of Costa Rica advances, with new four-lane highways and a series of bypasses around San José that avoid the narrow, congested...

El Salvador Schools Enforce Military-Style Uniform Inspections

El Salvador's public schools will start enforcing daily inspections for students' uniforms and haircuts from August 20, as ordered by the new education minister,...

Honduras agrees to receive migrants under new US deportation agreement

The US has signed a new deportation agreement with Honduras, allowing officials to send migrants from other countries there instead of keeping them in...

FBI Recordings Reveal Costa Rica Ex-Minister Celso Gamboa’s Drug Ties

Costa Rican authorities continue to hold former security minister Celso Gamboa in custody as U.S. officials push for his extradition on drug charges. Recent...

Panama Union Files Lawsuits Against Chiquita Over Mass Layoffs

Panama’s President, José Raúl Mulino, will meet in Brazil with U.S. banana company Chiquita Brands in search of an agreement for the company to...
L. Arias
L. Arias
Reporter | The Tico Times |
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica