• Squaremouth travel insurance button 468x106
  • Tico Travel Surfing
  • Costa Rica Real Estate

Canadian textile company to open new plant in Costa Rica

June 26, 2014

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.

You may be interested

Slothy Sunday: Onward and upward
Sloth Sundays
302 views
Sloth Sundays
302 views

Slothy Sunday: Onward and upward

Duncan Coleman - February 23, 2020

January 26, 11:20 a.m. was the last time I saw Pebbles. Pebbles, the tamandua anteater I had been observing and…

Pic of the Day: Hot chocolate with a garden view
Pic of the Day
53 views
Pic of the Day
53 views

Pic of the Day: Hot chocolate with a garden view

The Tico Times - February 22, 2020

Minutes outside of San José toward Cerro Zurquí, Sibú Chocolate serves some of the finest Costa Rican delicacies around. Their…

After public criticism, Costa Rican gov. repeals decree that created department with access to ‘confidential’ information
Costa Rica
72 views
Costa Rica
72 views

After public criticism, Costa Rican gov. repeals decree that created department with access to ‘confidential’ information

The Tico Times - February 21, 2020

The Costa Rican government repealed a decree that had created a Data Analysis Unit, after public criticism questioned its purpose…

Do NOT follow this link or you will be banned from the site!