Manaco Closed Due to Adverse Economic Factors
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The Bolivian shoe industry Manaco closes its plant in Cochabamba after accumulated losses of Bs 130 million. La entrada Manaco announces definitive closure; a strong blow to the industry was first published in La Patria Bolivia.
“We are closing a productive operation that is no longer sustainable, but we take this measure responsibly (...),” said Cesar Panduro, general manager of Fabrica Boliviana S.A.
“After exhaustively exhausting all the technical, financial and logistical alternatives, and recording accumulated losses that reach 130 million Bolivians, we have taken the difficult, but responsible decision, to definitively close the company,” reads the official statement of Manufacture Boliviana S.A.
The shoe industry Manaco announced this Saturday its definitive closure due to adverse economic factors and announced the coverage of all the labor rights of its workers. Through a public communiqué the emblematic company of Manufacturing Bolivia S.A.(Manaco) said that it made all efforts to adapt to a complex economic environment, but without achieving the expected results. Next, the integral communiqué issued by the company:
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