Grupo M

completed

Founded in 1986, Grupo M is the largest private sector employer in the Dominican Republic with 12,000 employees working in 22 production facilities and is the largest apparel producer in the Caribbean/Central American region supplying to major US brand name companies including Liz Claiborne, Polo, Levis, Hanes and Tommy Hilfiger. The Haiti Project is a phased development of a 500,000 m2 site on the border of Haiti and DR. Phase 1 of the investment program will develop an area of 150,000 m2 for a total investment of $11 million. Upon completion, Phase 1 is expected to generate 1,500 direct jobs and up to 3,000 indirect jobs for Haitian workers in the adjacent area. Subsequent development is expected to include outside customers producing apparel, footwear and other products who would lease or purchase facilities built to order by the zone development company, which will be 100% owned by Grupo M. The total site area would allow up to 40 factory units providing as many as 20,000 direct jobs and 40,000 indirect jobs at full capacity. The project is to provide - a corporate financing to Grupo M (the Group or the company), a vertically integrated apparel manufacturer in the Dominican Republic producing knits and woven products for the US market, to finance ongoing capital expenditures, long term working capital needs and to refinance existing obligations, and - a loan to finance an export zone promoted by Grupo M focusing on garment production in the Republic of Haiti (the Haiti Project).