The National Free Zone Commission, dated November 11th, 2014, held the session of Board of Directors No. 173, which were approved the following companies:
ISTMO TEXTILE CORPORATION.
Originally from Korea, ISTMO TEXTILES, SA, assumes the ongoing operation of its sister company ISTMO TEXTILE NICARAGUA, SA, dedicated to the manufacture of garments, in its facilities located in Managua, Industrial Park Las Mercedes, Km. 12½ Carretera Norte.
This company currently occupies 33,415.44 m2 of industrial space, generating 3,737 of direct jobs and has of today US$ 33 million dollars of investment.
Annic II, CORPORATION.
Company originally from Canada is dedicated to the manufacture of basic knit shirts, will take over the industrial operation of Annic LLC, SA, in its facilities located in Masatepe, Industrial Park Las Palmeras, Km. 45 ½ Masatepe road to San Marcos.
Annic LLC, SA, has an investment as of today of US$ 4.31 Million, and generates 957 direct jobs and has13,251 m2 of industrial space.
INTERNATIONAL TEXTILE CORPORATION - INTEX, SA
Company originally from Nicaragua- INTEX, SA, is dedicated to the manufacture of yarn and fabric (textiles).
It is located in Managua, Industrial Park Las Mercedes, Km. 12½ Carretera Norte where leases 18,000 m2 of industrial space. They will invest an estimated amount of US$ 25 Million dollars and will generate 270 direct jobs.
Gildan Activewear (RIVAS II).
This company originally from Canada will assume the operation of Gildan Activewear (RIVAS), SA, in its facilities located in Rivas, Free Zone Nicaragua, SA, Km. 109 ½ Panamerican Highway, three hundred meters to the west.
Currently Gildan Activewear (RIVAS), SA, is dedicated to the manufacture of garments specifically knit shirts for exports, as of today it has an investment of US$ 9.31 million dollars, generating 3,736 direct jobs and has 12,266 m2 of industrial space.
Operator:
AGROINDUSTRIAL DEL NORTE PARK, SOCIEDAD ANONIMA – PANSA
This park from Costa Rica is dedicated to the operation, administration and promotion of an Operator company of Free Zones.
It is located in the city of Esteli, from the Texaco gas station 500 m. northeast, road Miraflor, where they have 10,344 m2 of industrial space.
At the start of its operations it will generate five direct jobs and will invest US$ 1.22 Million dollars.
REVOCATIONS
The National Free Zone Commission revoked the operating permit to the following Tenants:
1. Algal Oil, S. A.
2. Tabacalera Central de Nicaragua, SA
CORPORATE SOCIAL REFORM
The CNZF ratified the Amendment to the corporate name of the following Tenant companies:
TECNIPROCESOS DEL MUNDO, SOCIEDAD ANONIMA
By internal decision of the companie´s partners TECNIPROCESOS DEL MUNDO reformed its industrial activity so the company will focus on the procurement and supply of raw materials, intermediate goods, equipment, parts, accessories, supplies, finished products or semi processed companies that are either free zones or are abroad.