SALVADOREAN RAILWAYS CO. LTD. (U.K.):
Railway linking San Salvador-Sonsonate-Acajutla
(1894). Nationalized in 1962.
CH. BUTTERS CO. LTD. (U.S.)/(1) Butters
Divisadero: gold mine (1901). (2) Butters Salvador
Mines Co.: San Sebastian gold mine (1908). Both
sold in the 1920s.
ALL AMERICA CABLES (U.S.): Telegraph and
telephone (190-). Nationalized in 1965.
INT’L RAILWAYS OF CENTRAL AMERICA (U.S.): (1)
Acq. San Miguel-La Union railway (1912). (2) Built
El Salvador-Guatemala railway (1929; $12 m. inv.).
CENTRAL AMERICA MINES (U.S.-Canada)/Cia. Mi-
nera del Divisadero S.A.: Potosi gold mine and acq.
50% interest in San Sebastian mine. (192–1939).
INT’L POWER CO. LTD. (Canada)/Cia. de Alumbrado
EIctrica: Lighting and electric power (1926-1977).
MONTE CRISTO MINING (U.S.): Gold mine (192-).
Sold in 1969 to Canadian Javelin.
ANGLO-SOUTH AMERICAN BANK LTD. (U.K.):
Branch bank in San Salvador (193-).
NEW YORK & HONDURAS ROSARIO MINING (U.S.)
/N.Y. & El Salv. Mining Co. Inc.: Gold and silver
mines (1946; $.1 m. inv.). Sold in 1953.
GENESCO (U.S.)/Calzado Salvadorefno: Shoe
factory, San Salvador. Acq. min. interest. (1953).
INTERCONTINENTAL HOTELS (U.S.)/Hotel El Salvador
Intercontinental, San Salvador (1954; $3 m. inv.).
TOYO SPINNING CO. (Japan)/Industrias Unidas S.A.
(IUSA): Cotton textile plant in San Salvador. JV with
C. Itoh (1954; $2.4 m. inv.). Capacity increased
50%, 1971-2. Employed 1,850 as of 1973.
INT’L BASIC ECONOMY CORP. (U.S.)/Productors de
CAFE S.A.; Soluble coffee. 49% JV with Tenco and
locals (1955; $1.3 m. inv.).
PACIFIC VEGETABLE OILS-P.V.0. CORP. (U.S.)/
La Fabril de Aceoles: Vegetable oils, animal feed
plant in San Miguel. 51% JV (1955).
A B C (U.S.): Two TV stations (1956, 1959). SEARS ROEBUCK & CO. (U.S.): Dept. store in San
Salvador (1956).
STERLING DRUGS (U.S.)/Drogueria Centroamericana
S.A.: Pharmaceuticals plant in San Salvador
(1957).
PILLSBURY (U.S.)/Molinos de El Salvador S.A.:
Mill for imported wheat. 10% JV (1959).
SHERWIN-WILLIAMS (U.S.)/S-W de Centro America
S.A.: Paint factory. Min. interest JV (1959).
BRITISH-AMERICAN TOBACCO CO. (U.K.)/Ciga-
rreria Morazin: Large cigarette plant near Ilopango.
JV (1959; $7.2 m. inv.).
FOREMOST (U.S.)/Empresas Lacteas S.A.: Ice
cream, milk and cheese plant. Acq. 60% interest
(1960; $.3 m. inv.).
CANADIAN SHELL CO. (U.K.-Dutch)/Refineria Petro-
lera Acajutla S.A. (RASA): 13,500 b/d refinery at
Acajutla for Venezuelan oil. 30% JV with ESSO,
Salv. gov’t (1960; $3 m. inv.).
STANDARD OIL OF N.J.-ESSO* (U.S.)/RASA: See
above. 65% JV with Shell, gov’t (1960; $10 m.
inv.).
ESSO (U.S.)/Fertica S.A.: Fertilizer plant at
Acajutla. Maj. interest JV (1962; $5 m. inv.). Sold
to GUANOMEX in 1970.
STANDARD BRANDS (U.S.)/Pan American Standard
Brands Inc.: Baking powder, gelatins, mixes; San
Salvador (1962).
UNILEVER (U.K.-Dutch)/Industrias Unisolas S.A.:
Detergents, margarine. JV with DeSola family
(1962; $1 m. inv.).
PHELPS-DODGE (U.S.): Copper telephone wires, San
Salvador. 50% JV with gov’t (1963; $2.5 m.
inv.).
WESTINGHOUSE ELECTRIC (U.S.): Motors, trans-
formers, bulbs (1963; $1 m. inv.).
CHORI CO. LTD. (Japan)/Confecciones Textiles Inter-
Americanos S.A.: Synthetic fibers. JV (1963).
ALCOA (U.S.)/Alcoa de Centroamerica S.A. (AL-
DECA): Aluminum shapes from imported ingot.
Acq. 80% interest (1963; $.4 m. inv.).
SATOH AGRICULTURAL MACHINE CO. (Japan):
Agricultural cultivators. JV (1963).
PFIZER (U.S.): Pharmaceuticals plant. JV (1963;
$1 m. inv.).
IMPERIAL TOBACCO CO. LTD. (U.K.)/Lea & Perrins:
Worchestershire sauce from imported ingredients.
Maj. interest JV (1963).
PROCTOR & GAMBLE (U.S.)/Folger y Cia.: Coffee
buyers and instant coffee (1963).
31NACLA Report
ATSA EXPORT-IMPORT INC. (U.S.): 2 large molasses
storage terminals in Acajutla (1964; $.5 m. inv.).
FIRST NATIONAL CITY BANK (U.S.): Bank branch in
San Salvador (1964).
FOREMOST (U.S.)/Corp. Bonima S.A.: Pharmaceuti-
cals. Acq. 50% interest (1964).
KIMBERLY-CLARK (U.S.): Tissue plant in Santa
Tecla. 60% JV (1964).
MONSANTO (U.S.): Insecticides from imported in-
puts. 50% JV (1964). Closed in 1967.
PHILLIPS N.V. (Dutch)/IMPELCA S.A.: Light bulbs,
San Salvador (1964; $.56 m. inv.).
LENOX (U.S.): Plastic dishes, San Salvador. JV
(1964; $.15 m. inv.). New plant built in 1968.
INT’L HARVESTER (U.S.): Truck, bus assembly,
Santa Ana. Min. interest JV (1965; $.4 m. inv.).
Closed 1969.
SEKISUI CHEMICAL CO. LTD. (Japan)/Industrias de
Tuberia S.A. (INTUSA): Plastic siding, tubing in
San Salvador. JV (1965).
CROWN ZELLERBACH (U.S.)/Cartonera Centroameri-
cana S.A.: Cardboard containers from imported
components. Min. interest JV (1965).
MERCON A.B. (Sweden)/Vidrieria de Centroamerica
S.A. (VISCA): Pressed and blown glassware. JV
(1965; $1.8 m. inv.).
AMERICAN STANDARD (U.S.)/Ideal Standard: Air
cond. equipment assembly, San Salvador. 80% JV
(1965; $.15 m. inv.). Sold in 1972.
BEMIS (U.S.)/Bemis El Salvador: Multiwall bags,
Santa Ana. 50% JV (1966; $.3 m. inv.).
CHORI CO. LTD. (Japan)/Industrias Sinteticas: Syn-
thetic fibers. JV (1966; $1 m. inv.). $10 m. expan-
sion in 1978.
MANHATTAN INDUSTRIES CO. (U.S.)/Gadala Maria
Hermanos S.A.: Men’s shirts (1966). Added
women’s sportswear in 1968.
TEXACO (U.S.)/Texaco Caribbean Inc.: Lube oil
blending in Acajutla (1967).
McCORMICK & CO. (U.S.): Teas and spices, San Sal-
vador (1968; $.2 m. inv.).
CHASE INT’L INV. CO. (U.S.)/Financiera de la
Pequefla Empresa S.A.: Financing firm. Acq. min.
interest (1968).
(German)/Implementos Agricolas
Centroamericanos S.A. (IMCASA): Agricultural
tools, Santa Ana. 28% JV (1968).
U.S. STEEL (U.S.)/Metales y Estructuras (METASA):
Galvanized pipes and forms, Acajutla. Acq. maj. in-
terest (1968).
B.F. GOODRICH (U.S.)/Quimicas Goodrich de Centro
America S.A.: Polyvinyl chloride. 20% JV with IN-
SAFI (1969; $4 m. inv.).
32Mar/Apr 1980
MOORE (Canada): Business papers, San Salvador.
Acq. 49% interest (1969; $.1 m. inv.).
CANADIAN JAVELIN (Canada)/Minas San Cristobal: (1) Acq. old properties of Monte Cristo (1969). (2) Opened Los Encuentros gold-silver mine in
1971.
UNILEVER (U.K.-Dutch)/La Favorita S.A.: Soap factory. Acq. in JV with DeSola family (1969).
WM. UNDERWOOD CO. (U.S.)/Productos Alimentic-
las Underwood (PAUCASA): Deviled ham. (196-).
Sold in 197-.
BAYER FOREIGN INVESTMENTS (Germany)/Bayer
Quimicas Unidas: Chemicals**. 98% JV (196-;
$2.4 m. inv. as of 1978).
CARGILL (U.S.): Animal feed products**. JV (196-).
GUANOMEX (Mexico)/Fertica S.A.: Fertilizer plant,
Acajutla. Acq. maj. interest (1970).
WARD FOODS (U.S.)/Atarraya S.A.: Shrimp trawling
and processing. Acq. maj. interest (1970).
UNITED AIR LINES’ WESTERN INT’L HOTELS DIV.
(U.S.)/Hoteles S.A.: Camino Real San Salvador. JV
(1970; $4.4 m. inv.).
(South Korea)/Central American Tuna Freezing Co.: Fish freezing facility in La Uni6n. 50% JV (1970; $1 m. inv.).
KIMBERLY-CLARK (U.S.): Crepe papers at Sitio del Ninio. 60% JV (1971; $3.2 m. inv.). TAPPAN CO. (U.S.)/Ideal Standard: Air cond. equip- ment assembly plant. Acq. 80% interest (1972).
(Japan)/Cia. Textilera: Textile plant,
Santa Ana (1972).
ESSO, SHELL (U.S.)/Refineria Petrolera Acajutla
S.A. (RASA): Asphalt plant in Acajutla. 95% JV
with locals (1972; $1 m. inv.).
TEXAS INSTRUMENTS (U.S.)/T.I. El Salvador Inc.:
IC, semi-conductors and calculators, San Bartolo
(1973). Employed 1000 in 1974.
GUANOMEX (Mexico)/Fertica S.A.: Ammonium sul-
fate plant in Acajutla (1974; $6 m. inv.).
DATARAM CORP. (U.S.)/Dataram Int’l El Salvador
C.A.: Computer memory cores, San Bartolo (1975).
Employed 400 in 1976.
BANK OF AMERICA (U.S.) Branch in San Salvador
(1976).
GUANOMEX (Mexico)/Fertica S.A.: Sulfuric acid plant
in Acajutla. Maj. interst (1976).
KAY ELECRONICS (U.S.): Electronics assembly
plant, San Bartolo. JV (1976).
SHELL CHEMICAL (Dutch)/Shell Qulmica de El Sal-
vador: Insecticides, fungicides, herbicides. JV
(1976).
(German): Textiles. JV (1977; $2.4 m. inv.).
BECKMAN INSTRUMENTS (U.S.)/APLAR (El Salva-
dor) S.A.: Transistor assembly, San Salvador
(1978).
AVX CERAMICS CORP. (U.S.): Ceramic capacitors,
San Bartolo (1978; $3.2 m. inv.).
MAIDENFORM INC. (U.S.)/Confecciones de El
Salvador: Lingerie (197 ). Sold in 197-.
RAPID AMERICAN’S BEAU BRUMMEL DIV. (U.S.):
“Aris Isotoner” leather gloves (197-).
MAJOR INVESTMENTS
IN DISTRIBUTION FACILITIES
ESSO (U.S.)/West India Oil Co. (Central America): Oil
distribution (194-).
BRISTOL MYERS (U.S.)/Cia. B-M Centroamericana
S.A.: Drug distribution (1963).
RALSTON PURINA (U.S.)/Purina El Salvador: Chow
warehousing, San Salvador (1966). STANDARD OIL CO. OF CALIFORNIA (U.S.)/Cia.
Petrolera California-Chevron Ltd.: Oil distribution
(1969).
SINCLAIR OIL CORP. (U.S.)/Sinclair Caribbean Oil
Co.: Oil distribution (196-).
DOW CHEMICAL/Dow Qulmica Centroamericana S.A.:
Chemicals sales, San Salvador (1970).
MATUSHITA ELECTRICAL INDUSTRIAL CO. LTD.
(Japan)/Nacional de El Salvador S.A.: Batteries,
electrical goods, San Salvador (1973).
This chart includes known direct foreign investments in El Salvador. It was prepared by Marc Herold, from the Multinational Enterprise Data Base (Durham, N.H.: Economics Program, University of New Hampshire). The parent company is listed first, followed by its local subsidiary and investment data. Unless otherwise in- dicated, all subsidiaries were established by the parent company. Location of subsidiary listed when available.
JV= Joint Venture (with % owned by parent company) Min./Maj. = minority/majority interest Acq.= Acquisition Date in boldface= date of entry Inv. = initial capital invested in subsidiary ($ millions) INSAFI = Instituto Salvadoretno de Fomento Industrial.
*ESSO is a major subdivision of Standard Oil of N.J. “**Products listed under Cargill and Bayer have not been confirmed by public sources.
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