Tuna processing plant in La Union. (Photo: Stock File/FIS)
Grupo Calvo plans to invest up to USD 7 bn in the next five years
Monday, October 05, 2015, 01:30 (GMT + 9)
Calvo Group plans to invest between five and seven million dollars over the next five years to improve its production lines in its tuna processing plant in La Union, informed the transnational corporation country director, Boris Quintanilla.
The Spanish company, which has recently celebrated its 75th anniversary, has operated for more than 12 years in El Salvador, and through the division covering Europe, Central America and the Caribbean, last year it entered Colombia, where it is seeking to expand.
The processing plant in El Salvador will be the main source of supply for the Colombian market.
The group expects that the investments that had been planned for the Salvadoran plant enable them to launch new products that consumers are demanding in areas such as the European Union, El Diario de Hoy reported.
Quintanilla stated that in the commercial level, they will seek to keep innovating with products to satisfy their customers and keep the leading position with canned tuna and canned goods.
But the entrepreneur also regretted that crime has affected the operation of the company, and increased costs.
"The investment climate is quite complicated due to crime. This is an investment climate that needs to be highly improved and it is necessary to set clear lines for foreign investors," he pointed out in comments reported by La Prensa Grafica.
In addition, he called on the Salvadoran government to improve procedures related to exports, since most of the company’s production goes to international markets.
Grupo Calvo employs over 4,000 people and has processing plants in Europe, Brazil and El Salvador, where more than 800 products stand out, most notably tuna, sardines, squid and mussels.
The multinational company closed in 2014 with a turnover of more than USD 1 billion worldwide.
- Calvo increases sales and maintains its market growth
- Calvo Group seeks new export markets