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[BUSINESS] · Mexico · 10 sources

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Closure of Ingenio San Pedro sugar mill threatens thousands in Veracruz

The San Pedro sugar mill in Lerdo de Tejada, Veracruz, announced a permanent shutdown after the owner, Grupo Porres S.A. de C.V., declared bankruptcy. The company said the plant was no longer financially viable and that the closure would be carried out in compliance with labor regulations.

The shutdown puts roughly 7,000 people – including mill workers, cane growers, transporters and related businesses – at risk, with indirect effects on up to 30,000 residents. Producers and unions estimate the economic damage could exceed 1 billion pesos. Leaders of the national sugarcane union and the Frente de Organizaciones Sociales y Económicas del Campo have called for federal assistance and a rescue plan.

Governor Rocío Nahle of Veracruz has met with company representatives and producer delegations, exploring subsidies, state financing and possible support from national development banks to keep the mill operating. The state government warned that the closure would have a severe impact on the regional economy and is seeking to avoid a repeat of previous mill shutdowns in the state.

Entities

Armando Azamar Nato · Claudia Sheinbaum · Grupo Porres · Grupo Porres S.A. de C.V. · Ingenio San Pedro · Javier Sánchez Chávez · Lerdo de Tejada · Rafael Lindo Chaga · Rocío Nahle · Veracruz

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