Copan announces a $78 million investment to expand its Puerto Rican production site. The project – partially financed by Puerto Rico’s Government – will bring Copan production and distribution capacity closer to the American market, strengthening the company’s presence in the US and the rest of the Americas
Copan Group announced a millionaire investment to expand its production capacity in Aguadilla, Puerto Rico, which joined the main Italian production site three years ago. The operation has a total value of over $78 million: $9 million will be allocated to purchase and maintain new machinery, while the rest will be invested to increase the number of employees from 100 to 352.
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“The establishment of our company in Puerto Rico has proven to provide favorable conditions for the expansion and growth of our business globally,” declared Stefania Triva, Copan Group’s President. “With this investment, we aim to strengthen our presence in the US market: through a hub & spoke distribution strategy, we’ll be able to offer a competitive service with unprecedented efficiency and rapidity throughout all the American territory,” she continues.
Puerto Rico’s Economic Development and Commerce Department supported the operation by approving $23 million of incentives, seeing in the project – which brings Copan’s technological know-how, quality, and work welfare attitude across the ocean – an excellent opportunity for the whole US. According to Puerto Rican Governor Pedro Pierluisi, “manufacturing companies as Copan represent an important component of the economy, as they contribute to creating and retaining jobs. We are proud of the talent that exists in Puerto Rico, and we are confident in the continued success and commitment of Copan Industries to the Island.“
Copan’s recent activity has been fervent in the US, with investments in Puerto Rico, California, and the successful clearance of products finally available in the US – as the eNAT® nucleic acid storage and stabilization device FDA-cleared at the end of 2020. This project fits Copan’s current strategy to bring production sites closer to the end markets, streamlining logistics and enabling an efficient and prompt service everywhere globally.
Source: Copan
