SID y Mercalia se fusionan en una nueva empresa (SID and Mercalia merge into a new company)

THE DECISION SEEKS TO MEET THE CHALLENGE OF A GLOBALIZED ECONOMY.

The merger of two of the most important Dominican manufacturing companies, Sociedad Industrial Dominicana (SID) and Mercalia, constitutes an example of what it means to advance towards economies of scale in a world that is becoming more globalized every day.

The announcement of the merger took place yesterday in a luncheon with executives from the media. In a press release of the new business empire it is indicated that it is a strategic alliance that seeks to prepare the companies for the international competition this aperture represents.

"In that sense, Sociedad Industrial Dominicana and Mercalia, inform their consumers, majority and minority stock holders, and all other interested parties, in the country as well as abroad, that an agreement has been reached to form a new company, effective as of June 1st, 1999, for all the brands of cooking fats and represented products", the document indicated.

The new company is constituted, according to the announcement, with capital 80 percent from SID and 20 percent from Mercalia, and taking on the name MERCASID.

The document indicated that it is not solely about the joint manufacturing of brand names, but also an integration of personnel, technology and all the resources of successful companies who for more than 60 years have been offering Dominican families a wide array of products of superior quality.

"MercaSID's mission shall be to be a leading Dominican organization in innovation, production and marketing of products of massive consumption to fully satisfy consumer expectations, based on excellent in quality and service, with responsibility to the stock holders, society, clients and the environment", the businessmen involved in the new industry indicated.

In fact, the merger will not imply, for the consumer, supply problems. In this sense, MERCASID assured that the continues flow of their brand name products would continue, with the same standard and competitive prices, to which they will add a growing supply of new product to fulfill the most demanding aspirations of all consumers.

The new company also made a commitment to make new investments and increase their competitiveness in the face of the challenges this new commercial aperture that will open the doors to new markets that will expand their brands internationally, which they interpret as a solidification of the Dominican economy.