Almacenadora S.A.

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Project Number: 
CR3997A-01
Expected Consideration Date by the Board: 
07/21/2015
Date Posted: 
06/19/2015
Company: 
Almacenadora S.A. (“Almacenadora” or “the company”), a company of Grupo Pasquí S.A.
Sponsoring Entity: 
Grupo Pasquí S.A.
Financing Requested: 
Loan of up to US$600,000
Sector: 
Services
Location: 
San Jose, Costa Rica
Country: 
Scope Objective: 

The proceeds of the IIC loans will be used for working capital.

Almacenadora is a Costa Rican company specializing in bonded and general warehousing services that employ state-of-the-art technology. It has more than 8,000 m2 of warehouse space in excellent physical condition, surrounded by 10,000 m2 and 11,200 m2 of yards, respectively, at two different locations in the Greater Metropolitan Area. The warehouses also have internal racks for greater storage capacity and a barcode localization system that ensures proper management and traceability.

Grupo Pasquí (formerly Grupo Flor de Lis S.A.) is a diversified Costa Rican group of small and medium-sized enterprises that sell telecommunications equipment and industrial raw materials; provide logistics, transportation, warehousing, and air cargo terminal services; generate electricity; represent foreign companies; and distribute consumer goods.

The group was established in October 1964, and in 2010, management renamed it Grupo Pasquí for purely commercial purposes.

Environmental Review: 

Environmental and Labor Issues:

This is a category B project according to the IIC’s Environmental and Social Sustainability Policy because it could produce certain effects that may be avoided or mitigated by following generally recognized performance standards, guidelines, or design criteria. The main environmental and labor considerations related to the Project are: efficient resource use and pollution prevention, workplace and labor conditions, and community health and safety.

For the purposes of this presentation, the Grupo Pasquí companies are considered a single company.

Waste Management: The company does not generate significant waste, as it only imports and stores products but does not process them. However, it has engaged a service provider (EBI de Costa Rica) to handle any hazardous waste.

Labor Practices: The company complies with domestic labor laws. These mandatory core labor standards include social security benefits, freedom of association, organization of workers’ unions, prohibition of forced labor, the elimination of exploitative and abusive child labor, and nondiscrimination in the workplace. Company employees do not belong to a labor union.

The company has a human resources policy that covers the various aspects of the employee-employer relationship: wages, the different types of contracts, breaks, and other benefits. The company also has a staff training and human development policy, as well as an ethics and confidentiality policy. Employees are enrolled in the Costa Rican social security system (Caja Costarricense de Seguro Social, CCSS) and have the right to a company-provided medical service. Family members who are direct dependents of workers enrolled in the CCSS are also beneficiaries.

Monitoring and reporting: Almacenadora shall prepare an Environmental and Social Action Plan (ESAP) satisfactory to the IIC to ensure compliance with domestic regulations and the IIC’s environmental and workplace safety and health guidelines. The ESAP includes implementation of an emergency response and fire prevention plan and an environmental monitoring plan. As part of the ESAP, the company shall prepare annual reports with updates on the implementation of these plans at its different facilities.