AGRIBUSINESS AND FOOD
ALBERTI FOODS: Empacadora Nicaraguense.
Food processing.
BOOTH FISHERIES (CONSOLIDATED
FOODS): (1) Booth Nicaragua (acq. ’64).
54% JV. Shrimp exports. $4 mn inv (2) Nicamar
(late ’60s). 50% JV w/ BANIC & INFONAC
Shrimp processing. $3.4mn inv. +
BROWN & WILLIAMSON TOBACCO CO.
(BRITISH-AMERICAN TOBACCO CO): Ta-
bacalera Nicaraguense (late ’50s). JV w/
Somoza interests. Mfrs. cigarettes.
CONTINENTAL MILLING (70s). Grain elevator
& feed mill
GENERAL MILLS: Industrias Geminas (’62).
50% JV w/ BANIC Flour & feed mill. $2.4mn
inv. +; Chinandega.
LEIGH TEXTILE CO: Grasas y Aceites. Cotton-
seed oil: $2.71mn inv. Chinandega
MJB CO: Cafe Soluble (’69). Roasted & instant
coffee. $2.5mn inv.
NABISCO INC.: Industrias Nabisco-Cristal
(acq ’65). 60/ JV. Biscuits & crackers $1 mn
inv
QUAKER OATS: Quaker de Centroamerica
(’63). 100%. Produces rolled oats.
RALSTON PURINA: Purina-Nubasa (acq. ’66).
51% JV. Livestock & poultry feed. $22mn
Inv. +
STANDARD FRUIT & STEAMSHIP CO (CAS-
TLE & COOKE): Banana exporter; contracts
w/ local growers. $3mn inv. +
UNITED FRUIT CO (UNITED BRANDS): (1)
Aceitera Corona (acq. ’68). 7 7 % JV w/
Somoza interests. Edible oils, $1.5mn inv. (2)
Cukra Development Co. (’12) Palm oil, pea-
nuts. (3) NUMAR (’70s). 2000 acre mechanized
peanut plantation.
BANKING
BANK OF AMERICA (’64): Three branches in
Managua.
FIRST NATIONAL CITY BANK (’67): Two
branches $.78 mn inv. +
PHILADELPHIA NATIONAL BANK: Banco
Caley-Dagnall. 17.5% JV. Finances coffee
industry & trade.
WELLS FARGO BANK: Banco de America.
18.8% JV. Largest private bank $100mn as
sets; 42 branches.
CHEMICALS
ATLAS CHEMICAL INDUSTRIES: Industrias
Quimicas Atlas de Centroamerica (’65).
75% JV. Insecticides & emulsifiers. $1mn inv.,
Leon.
BORDEN INC: Quimica Borden (’60). 60% JV.
Mfrs resins & plastic adhesives; Tipitapa.
H.B. FULLER CO: (1) Industrias Kativo de
Nicaragua (’65). Plastic products & paints.
$1.4mn sales. (2) Mercadeo Industrial. Mfrs.
adhesives.
HERCULES CO: Hercules de Centroamerica
(’67). 60% JV w/ INQUISA (Industrias Quimi-
cas), JV w/ Adela Investment Co. (Luxem-
bourg), INFONAC & Nic. Interests. Mfrs. in-
secticides. Chemicals supplied by Pennwalt.
INTL. ORE & FERTILIZER CO. (OCCIDENTAL
PETROLEUM): Abonos Superiores. Maj JV
Mfrs. & bags fertilizer. $.8mn inv. +
MITSUI CO: Polimeros Centroamericanos
(POLICASA). 45% JV w/ INFONAC, Adela &
Nic. interests. Mfrs. polyvinyl chloride. $2mn
inv.
OLIN CORP: Fertilizantes de Nicaragua (’70).
Maj. JV. Mixes fertilizers.
MONSANTO CHEMICAL CO: Monsanto Agri-
cola de Nicaragua (’66). 75% JV. Mixes in-
secticides; Leon
PENNWALT CHEMICAL CORP: Electroquimi-
ca Pennwalt (’67). 40% JV wl INOUISA.*
Mfrs. caustic soda & chlorine. $5mn inv. +
ROYAL DUTCH SHELL: Compania Quimica de
Nicaragua (’77) Mfrs. fertilizer, insecticides,
herbicides.
STAUFFER CHEMICAL CO: Insecticides
Stauffer (’61). 38% JV Mixes insecticides.
TENNESSEE CORP: Cia. Fertilizante Superior.
Maj. JV. Mixes insecticides.
UNITED BRANDS: Polymer United de Nica-
ragua. Processes raw materials for plastics
industry.
*INQUISA (Industrias Quimicas), JV wl Adela
Investment Co. (Luxembourg), INFONAC & Nic.
Interests
FOREST PRODUCTS
BLUEFIELDS LUMBER CO. Timber exploitation
CADMUS INTL: Maderas Industriales (’68). JV
w/ INFONAC & US interests. Wood products.
$2mn inv + .
EVANS PRODUCTS: Maderas Centroamerica-
na (acq ’69). 51% JV. Logging, furniture mfr.
$1.2mn inv +: Matagalpa
PLYWOOD DE NICARAGUA (’59) JV of US,
Nic., & Israeli capital. Mfrs. & exp. plywood to
CACM, US & Canada
TROPICAL DEVELOPMENT CORP. Logging &
drying hardwoods. $.15mn inv.
WEISS FRICKER CO. Timber exploitation.
WM. WRIGLEY JR CO. Gum plant at Waspam.
Exports to US parent.
NACLA Report
NACLA Report
38Nov./Dec. 1978
MINING
ASARCO: Neptune Mining Co. (’38) 52% JV w/
Rosario Resources. Vesubio mine (lead & zinc).
$3mn inv. Bonanza mine (gold) in Zelaya.
ROSARIO RESOURCES: (1) Neptune Mining
(see above). (2) Rosario Mining of Nic. 100%.
La Rosita (copper, gold & silver); Siuna &
Riscos de Oro (gold). Zelaya.
TOURISM & TRANSPORT
HUGHES TOOL CO: Lineas Aereas de Nic- aragua (LANICA) (acq. ’72). 25% JV w/ Somoza fam. & govt.
INTERCONTINENTAL HOTELS CORP. (PAN AM): Hoteles de Nicaragua. Mangmnt. con- tract & JV w/ Somoza fam. & Adela. 1 hotel: $4.1 mn ’70 & $4.8 mn ’77 +
SHERATON HOTEL CORP. (ITT): Corporacion Hotelera de Turismo (’75). $4.8 mn. Managua Sheraton.
WESTERN INTL. HOTELS (UAL INC.): Posada del Sol (’76). $2.1 mn inv. at Managua Intl. airport.
HOLIDAY INN: Turismo de Nicaragua (’77). Projected completion ’79. Holiday Inn Managua.
OTHER
ABBOTT LABS: Abbott Intl Labs. 100%. Mfrs. drugs.
ALGONDERIA WEIL S.A. (’77) Warehousing. $.25 mn inv. +
AMERICAN CYANAMID (’64). 100% Mfrs. lam- inated plastic sheets. $1.5 mn inv.
AMERICAN STANDARD INC: Indus. Ceramica Centroam. (’69) 50% JV w/ BANIC. Mfrs. & exp. china. $.85 mn inv. +
BAYLY CORP. (’77). Assembles & exp. pre-cut bluejeans. Free Industrial Zone, Managua Intl. Airport.
BEACON MFG. CO. (NATIONAL DISTILLERS & CHEM. CORP): Textiles Largaespada. JV. Mfrs. cotton blankets.
BEMIS INC: Sacos Centroamericanos (’66). JV. Mfrs. kenaf & jute bags. $1 7 mn inv.; Diriamba.
COLGATE-PALMOLIVE: Colgate-Palmolive de Centroamerica (’62). 100%. Toilet preparations.
COMMUNICATIONS SATELLITE CORP: Cia. Nic. de Telecomunicaciones por Satelite (’73). 4 9 % JV wi Nic. gov. Ground satellite for
TV/microwave. $4.1 mn inv.
COSCO INTL: Industrias Unidas de Centro-
america. S.A. JV. Mfrs. & exp, flavoring &
laxatives. Granada.
EMPIRE BRUSHES: E. Lopez y Cia. Mfrs
brushes.
EXXON: Esso West Indies Ltda. (’59). 100%.
Refines oil for Nic. market. Imports. Venez.
crude. $25 mn inv.
FIDELITY UNION LIFE INSURANCE:
Elaboradora Farmaceutica. Mfrs. drugs.
FORT DODGE LABS: E. Chamorro Bernard.
Veterinary medicines. Granada.
G.T.&E.: Electronica Centroamericana (’70)
Assembly of Sylvania TV’s.
RCA (’67). JV. Records, radios, TV assembly.
$.65 mn inv.
RHEEM INTL. CO. (CITY INVESTING CO) (’66):
51% JV. Mfrs. steel containers & electrical
equipment. Leon.
ROBINTECH. Mfrs. plastic pipe & fittings. $.62
mn inv.
SEARS ROEBUCK & CO. (’65). Department store
rebuilt after ’72 earthquake. $1 mn inv. +
SINGER SEWING (’63). 100%. Minor sewing
machine assembly.
ST. REGIS PAPER CO: (1) Empaques Multi-
wall Ultrafort (acq. ’65) 52% JV. Mfrs multi-
wall paper bags. (2) Envases Industriales
Nicar. (acq. ’64) Largest corrugated box
manufctr. in Cen. Am. $2.4 mn inv. +
STAHL FINISH CO (BEATRICE FOODS):
Quimica Stahl Centroamericana (’69). 90%
JV. Resins & Leather finishes.
STERLING DRUG: Lab. Farmaceutica de
Nicaragua (’58). 100%. Mfrs. drugs.
U.S. STEEL: Metales Y Estructuras (acq. ’68).
Maj. JV w/ Somoza fam. & Nic. cap. Mfrs.
structural steel. $2 mn inv,; Tipitapa.
WESTINGHOUSE ELECTRIC: Electrica de
Centroamerica (’63). JV w/ local cap. incl.
INFONAC. Mfrs. welding electrodes & refriger-
ators for CACM. $2 mn inv.
WINTHROP LABORATORIES (STERLING
DRUG CO.): Laboratorios Farmaceuticos de
Nicaragua. Mfrs drugs
This chart includes major U.S. investments in
Nicaragua. Not included are investments in accounting,
advertising, insurance, construction, and franchise or
sales office.
The parent company is listed first (if the foreign
company is itself a subsidiary the parent is in paren-
thesis), followed by its local subsidiary and investment
data. Subsidiary is located in Managua unless indicated
otherwise.
JV=Joint Venture (with % owned by parent
Date = Year of entry
Acq. = Acquisition
Inv. = Total capital invested in subsidiary
+ = Insured by U.S. Overseas Private Investment Corp.
(0PIC)
BANIC = Banco Nicaraguense
CNI = Corporaci6n Nicaraguense de Inversiones
IFC = International Finance Corporation (World Bank)
INFONAC = Instituto de Fomento Nacional
Chart compiled by NACLA mainly from the following
sources: Business Latin America, Inforpress Moody s
Industrial Manual, Noticias, OPIC, corporate annual
reports, interviews, and M. Herold, Multinational Enter
prise Data Base (Durham N.H.: Univ of N Hampshire.
Dept. of Economics, 1977).
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