New company will emerge from the alliance between Cuba and Mexico
- Submitted by: Camila
- Business and Economy
- 11 / 06 / 2014
Cuba and Mexico are working to create a mixed company for the production of flexible packaging for dairy, food and cosmetics, which could begin operations in the first quarter of 2015.
Ricardo Trujillo, first vice president of the business group of Light Industry of Cuba, said the firm, under the name Flexocaribe, will help replace imports. The firm is located in the western Cuban town of San José de las Lajas, Mayabeque province.
The project, carried out between the Mexican company Expomayab Industrial and local Cubalum, aims to meet 80% of domestic demand for such products and promote exports.
According to Trujillo, Cuba currently has a small company that makes packaging for salt, detergents, spaghetti and soaps, among other items of mass consumption by the population, but the machinery of the factory is outdated.
Mexican investment will upgrade and expand the technology as well as progress towards production levels that allow Cuba to replace large imports.