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Venezuela’s GoldPack Inc. sets up shop in Yabucoa

Venezuelan machine parts manufacturer Industrias GoldPack Inc. has set up shop in Puerto Rico through a $1.2 million investment to establish an operation in a leased building in the eastern town of Yabucoa, company and government officials announced Tuesday.
The new arrival is expected to create between 10 and 20 direct jobs in 18 months, of
which it has already hired eight full-time employees, Economic Development and
Commerce Secretary José Pérez-Riera said during a morning news conference.
While the number of jobs to be created seems low, Pérez-Riera said GoldPack de Puerto Rico’s greatest impact will be through its purchases from local suppliers, which he estimated at $750,000 a year.
The service GoldPack provides is pioneering on the island and adds significant value to our industrial ecosystem, being the only company in Puerto Rico dedicated to manufacturing custom-built machinery,” said Pérez Riera, adding that the company’s capital comes from Venezuelan entrepreneurs who decided to invest in Puerto Rico for the guarantees and security provided under the U.S. flag.
“The fundamental reason for choosing Puerto Rico is to have clear legislation, with the continuity, stability and protection provided by the American flag,” said GoldPack President Abraham Blumenkranc, during the news conference.
Blumenkranc added that during the first phase of its operations, the Yabucoa company will focus on meeting the needs of the local industry and then export its services and equipment to various Latin American markets. That expansion is expected to generate another 10 jobs, he said.

Industrias GoldPack Inc. is a subsidiary of Grupo BlumenPack, S.A., maker of industrial equipment for bakeries, beverage, water and dairy products manufacturers, and detergent producers, according to the company’s website. It provides equipment to Clorox, Pepsi, Colgate, Nestlé, Frito Lay, Procter & Gamble, Heinz, Unilever and Bayer throughout Latin America.

In Puerto Rico, the company will make machinery for the food industry, medical device and pharmaceutical sectors.

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Author Details
Author Details
Business reporter with 29 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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