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

Trump Says He Will End US Aid to Colombia as Tensions Spike

United States President Donald Trump on Sunday accused his Colombian counterpart, Gustavo Petro, of tolerating drug production and announced he would end “large-scale payments...

Costa Rica Defeats Nicaragua 4-1 in World Cup Push

Costa Rica delivered a strong performance last night, defeating Nicaragua 4-1 in their Concacaf World Cup qualifier at the National Stadium. The result marks...

Guatemala Backlash Grows after Escape of Imprisoned Gang Members

The escape of 20 “high-risk” gang members from a prison has sparked a political crisis in Guatemala, with criticism of President Bernardo Arévalo and...

Guatemalan Migrant Children Fear Deportation by Trump

At 15, I.B. fled poverty and an abusive father in Guatemala. She emigrated alone to the United States, like hundreds of children living in...

JetBlue Flash Sale: Fort Lauderdale to Liberia Flights Ends Today

Those looking for a deal on airfare and eyeing a trip between Florida and Costa Rica now have a chance to get one with...

Costa Rica Faces Calls to Strengthen Shark Protection Enforcement

Costa Rica faces growing pressure from environmental experts and lawyers to tighten enforcement of laws protecting endangered sharks. Recent court rulings have highlighted gaps...
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