Newsan Group, the leading manufacturer of electronic products in Tierra del Fuego, will invest 200 million pesos ($2.1 mn) in an aquaculture project to develop the production of mussels in the Beagle Channel. The initiative is part of a diversification of activities of the national capital company, which had already ventured into the fishing and food sectors through its Newsan Food division. The company currently exports to more than 70 countries and has an annual turnover of $180
Category: Business
Information regarding the business sector.
PwC to invest $45 mn in the country through 2024
PwC presented its new global strategy that involves a total investment of $12 billion for the next five years and the creation of 100,000 new jobs. In the specific case of Argentina, the estimated investment is $45 million between now and 2024, with 1,000 open positions in various areas.
Group Bimbo closes the frozen food plant and lays off 300 people
The Mexican-owned food company Bimbo confirmed the definitive closure of the frozen food factory that operated in San Fernando, Buenos Aires, which suffered a fire on May 9 that took it out of operation. Three hundred workers will be dismissed and will receive 100% severance pay.
Ganfeng Lithium to invest more than $580 million in Salta
The world's largest lithium company will invest more than $580 million in an extraction project in the province of Salta. The project will be powered by solar energy. The company Litio Minera Argentina SA, a subsidiary of Ganfeng Lithium, will generate more than four thousand jobs with the plan, 1,300 direct jobs and three thousand indirect jobs.
Shell triples its oil production capacity in Vaca Muerta
Shell Argentina tripled its production capacity in Vaca Muerta to reach 42,000 barrels of oil per day. In addition, this week, a new oil and gas processing plant was put into operation in the Neuquén basin, adding 30,000 barrels of oil per day (BPD) to the current 12,000 BPD.
Globant and Mercado Libre announce 1,000 scholarships for young people
Globant and Mercado Libre, in partnership with Digital House, presented in December Certified Tech Developer a training scholarship program designed to achieve the rapid employment of thousands of young people in Latin America. Due to the great demand, they have advanced scholarships and plan to deliver 2,5000 in 2021. To apply, please contact: https://www.digitalhouse.com/ar/acciones/certified-tech-developer
Arcor Group invests $20 million in a new packaging plant
The Arcor Group announced an investment of 20 million dollars to start a new packaging plant in Misiones. The facility, which will have an annual production capacity of 80 million multiwall bags, will start operations in the first quarter of 2022 and respond to the new requirements and the evolution of the construction, food, chemical and seed markets.
Covid: Argentina could manufacture almost 200 million vaccines
Argentina is one of the 35 countries worldwide where the vaccine to combat the coronavirus is manufactured, together with Brazil and Mexico. In the AstraZeneca vaccine, the active ingredient part produced in the MAbxience laboratory, where 90 million doses have been made and expect to reach 180 million this year. Sputnik V's fractionation and packaging part carry out since last week at the MR Pharma laboratory, where they hope to produce 5 million doses per month. On the other hand, negotiations are progressing to make the Chinese vaccine Sinopharm at Sinergium Biotech part of the Insud Group.
Agribusiness companies raise millions of dollars in financing on capital markets
The fertilizer company Profertil completed the placement of its first debentures for a total amount of $25 million. The issue was made through the dollar link instrument, at a rate of 2.49%, with a maturity of 24 months. Molinos Agro followed the same path, which weeks ago placed debentures for a total of $53.8 million. Morixe made its first issue of debentures for $4.2 million on the local stock exchange in June. The seed company Asociados Don Mario will launch its Series VI for up to $8 million.
Cresud launched a debt exchange with the issuance of $35.7 million in debentures
Cresud, one of the largest agricultural companies in the country, launched an exchange of debentures for $35.7 million that are part of an issue maturing next July 11 for a total of $59.5 million. The transaction opened last Friday, and the deadline to enter will be Monday, 28th of this month.
