During its report to its shareholders for the second quarter of 2014, the Canadian company Gildan Activewear confirmed in Montreal, Canada, that its next investment will be made in Guanacaste, Costa Rica, involving a modern textile manufacturing plant. The CoaliciÛn Costarricense de Iniciativas de Desarrollo has been working with the company for several months and stated its satisfaction with the confirmation of the new plant.
The firm is expected to provide jobs for 1,000 persons.
Gildan Activewear distributes its products in the United States and Canada, where it owns the leading brand in the industry. It is also one of the largest brands to provide sports, casual, and dress socks for a broad spectrum of retailers in the United States. Currently, it is developing itself as a brand to supply underwear and sportswear. Gildan Activewear reported sales above $2.2 billion in 2013, us 69 percent since 2009).
The company has more than 33,000 employees around the world in its plants located in countries such as Nicaragua, Honduras, the Dominican Republic and the United States.
Gildan Activewear indicated in its report that it chose Guanacaste because of its strategic location close to its other plants in Nicaragua, access to ports on the Costa Rican Pacific Ocean and the Caribbean Sea, and expeditious entry into the main markets in the United States thanks to the free trade agreement with the United States. It also cited the Free Trade Zone Regimen that Costa Rica has.
According to Gabriela Llobet, the development agency’s general director, “the operation that Gildan Activewear has decided to install in Costa Rica will make it possible to continue forming a solid network of plants in Central America, all the while that it diversifies and increases production capacities in the region and strengthens distribution of its products for the American and other markets around the world. This is all thanks to the competitive export platform that Costa Rica offers. We are very pleased since this plant will make it possible for Costa Rica to join a global value chain for the textile sector in a very sophisticated segment.”