Continex Representaciones S.A.

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Project Number: 
CR3998A-01
Expected Consideration Date by the Board: 
07/21/2015
Date Posted: 
06/19/2015
Company: 
Continex Representaciones S.A. (“CNR” or “the company”). A Grupo Pasquí S.A. company.
Sponsoring Entity: 
Grupo Pasquí S.A.
Financing Requested: 
Up to US$450,000
Sector: 
Distribution and Retail
Location: 
San Jose, Costa Rica
Country: 
Scope Objective: 

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

CNR is a Costa Rican company with more than 30 years in business domestically and in Central America representing foreign producers and venders of raw materials and chemical products, which it also imports and distributes.

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.

Personal Safety and Emergency Response: CNR represents and imports chemical products used in the food and beverage, fertilizer, plastics, cleaning products, paint, and other industries. Some of these products are potentially hazardous if spilled and can harm people or the environment. For this reason, the company has chemist and agricultural specialists in charge of handling its products. The company’s occupational health plan also includes specific strategies for correcting and controlling any risks identified and spells out the mandatory procedures for personnel to follow. Specifically, it has spill containment programs, accident management and monitoring programs, poisoning and pollution management procedures, and several associated subprograms.

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: CNR 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.