Intradeco Holdings Invests Over $100 Million In Central America to Expand Nearshoring, Advance Full Circularity, and Increase Solar Energy Power
MIAMI–(BUSINESS WIRE)–Intradeco Holdings is investing over $100 million in Central America to make the most of the CAFTA-DR and nearshoring opportunities, advance full circularity, and expand solar power with three major projects, it was announced today.
The first project is the Central American Spinning Works, a state-of-the-art ring spinning mill in Honduras, which began operations earlier this year.
The second project is the creation of a manufacturing plant in El Salvador that manufactures 100% recycled yarns — both cotton and synthetics. This will allow the company to advance in its full circularity textile supply chain strategy.
The third project will allow the company to expand its solar energy power to attain 30 megawatts by the third quarter of 2022.
In making today’s announcement, Felix Siman, Intradeco Chairman said, “Today’s announcement is consistent with our 40 years of innovation and service which comes with being an integral part of the textile, apparel, and retail industries. With our comprehensive distribution channels and state-of-the-art supply chain, we can reach our customers in an efficient and cost-effective manner in the shortest time possible.”
“Intradeco is a founding member in Think HUGE (Honduras, USA, Guatemala, El Salvador) Business and Investment Council. Through these investments, our company is helping to create more than 1,000 jobs in Central America, while contributing to the region´s environmental sustainability objectives,” Mr. Siman concluded.
About Intradeco Holdings
With 40 years in the textile industry, Intradeco is a global vertical-manufacturing company supplying high-quality casual clothing and thermal underwear to major retailers in the United States, Mexico, and Canada. With state-of-the-art manufacturing facilities, pioneering logistics best practices, and merchandising trends, Intradeco is committed to sustainability which has earned the company recognition from multiple partners and retailers.
Intradeco embraces its social responsibility through its commitment to the community by supporting different charities and foundations around the globe.
Contacts
Melissa M. Krantz
Krantz and Company
917-653-6716
mkrantz@krantzandco.com
