erry Products, and Irish food and beverage flavors manufacturer, will be closing down its operation in Arecibo in coming months as it transfers the operation to a plant in Mexico, Frank Hayes, director of corporate affairs confirmed to News is my Business.
Considering that 85 percent of all goods consumed in Puerto Rico are imported, it should come as no surprise that the trade group that champions for locally grown and produced goods recently issued a call to action by government agencies and consumers to support native industries.
Electronics and crop protection products maker DuPont Electronics is investing $40 million to expand its Manatí plant, adding 25 new jobs to its existing payroll.
Less than a year after announcing major plans to expand its Humacao operations, contract manufacturing firm Legacy Pharmaceuticals is shutting down today. The closing leaves about 150 jobless, News is my Business confirmed.
The Food and Drug Administration has issued a stern warning to pharmaceutical manufacturer Warner Chilcott Company, LLC in Fajardo for not taking sufficient corrective action related to its birth control pill production.
The private-sector delegation headed by the Puerto Rico Manufacturers Association that lobbied in Washington, D.C. last week in favor of the Puerto Rico Investment Promotion Act, asked members of Congress for a public hearing to discuss the effects of the proposal that seeks to jump-start the island’s economy.
Puerto Rico Puerto, the second largest investment destination in the region, is struggling to retain its position as a “viable value proposition” for pharmaceutical companies that have significantly scaled back their investments on the island in the last four years, a recently released study by Jones Lang LaSalle a global real estate services firm concluded.
A year after the IVU Loto twice-weekly sweepstakes launched, less than 15 percent of winners have claimed their prizes. Treasury Department data shows that so far, only 87 out of 580 winners have taken home their pay. Combined, winners have claimed $146,500, or a fraction of the $761,000 the agency has offered in cash prizes, News is my Business confirmed Wednesday.
As 2011 wraps up, the Puerto Rico Manufacturers Association — one of the island’s most important trade organizations — took stock Tuesday of the last 12 months, concluding that a trio of major administration-backed measures significantly set back competitiveness by hindering free trade and industrial growth.
The New York Federal Reserve Bank will incorporate 19 videos on financial literacy created by local college students who participated in the third edition of the “Puerto Rico Financial Awareness Video Contest,” co-sponsored by the Puerto Rico Bankers Association.
Resident Commissioner in Washington Pedro Pierluisi said Thursday that H.R. 3020, which proposes adding a new section to the U.S. Internal Revenue Code to drum up local investments, is facing several challenges in Congress.
Minneapolis-based- ATK announced today that its Eagle Industries business has received an additional $24.9 million contract from Marine Corps Systems Command to produce the U.S. Marine Corps' new standard-issue pack.
Interphex Puerto Rico, the annual event that gathers key components of the island’s knowledge-based economy, will again offer an agenda full of conferences and training sessions Oct. 20-21 that focus on its mission to generate activity and help professionals move forward.
Pharmaceutical company Merck, which has had presence on the island for more than six decades, will be investing $2.5 million in new business offices in Puerto Rico that will also serve as its commercial headquarters for the Caribbean region, company officials announced.
Medical device maker Medtronic will be pumping $50 million into expanding its Juncos operation in the next three years, adding some 200 jobs in the process, company and government officials announced Friday.
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