Brazilian shoe firm sets up in Nicaragua
Brazilian manufacturer of women’s leather shoes, Schmidt Irmaos Footwear, is currently establishing operations in Nicaragua and has sent its first group of Nicaraguan recruits to Brazil to learn about the company's practices.
The training is taking place at the company’s headquarters in Rio Grande do Sul, and will involve 23 workers in total. The first group, comprising seven employees arrived in Brazil on April 9 and will remain in the country for a month of training.
PRONicaragua, the country’s official investment promotion agency, contacted Schmidt Irmaos Footwear towards the 2009 after the company expressed interest in exploring investment opportunities in the region. CAFTA-DR, the free trade agreement between Central America, Dominican Republic and the US, was a key factor in the company's decision to invest in Nicaragua, as will enable the firm to substantially increase its exports to the US.
The company expects to launch operations this summer in the capital city of Managua, and hopes to generate approximately 1,800 direct jobs by the end of 2011.
Schmidt Irmaos Footwear currently produces 4.5 million shoes per year. It exports 70% of its production to the European market and 30% to the US.
