New Investments in the Hardware Store Sector
In Nicaragua, Grupo Ferromax reported that it invested $2 million in the opening of three new branches in Estelí, Chinandega and Masaya. Managers of the business group involved in the marketing of iron and sheet for construction, reported that two of the branches are operating since last December and one is ready to open this month.
See “Hardware Stores: Business in Central America”
Regarding the country’s situation, the president of Grupo Ferromax, Francisco Suriano Siu, said to Laprensagrafica.com that “… Despite the current socio-political problems in Nicaragua, Grupo Ferromax continues to bring its products to customers and generate more jobs’.”
The article adds that “… Grupo Ferromax is from Guatemala to Costa Rica. It currently has 176 Megaservices in the region, which are distributed as follows: Guatemala has 70 Megaservices; El Salvador, 47; Honduras, 23; Nicaragua, 25; and in Costa Rica it has 11 Megaservices.”
According to reports from CentralAmericaData, from Guatemala to Panama there are just over 4,000 establishments selling hardware products, of which almost 25% is concentrated in Costa Rica, followed by Guatemala, where about 20% of hardware stores are located.