Wal-Mart Boosts Central America Presence

[deadparrot]

Wal-Mart Stores Inc. is taking control of a Central American retail chain that it first bought into last September as it expands in Latin America to bolster its international growth, the world's largest retailer said Wednesday.

Wal-Mart said it had raised its stake in Central American Retail Holding Co., also known as CARHCO, to 51 percent from the 33.3 percent it bought last year. Terms of the latest deal were not disclosed.

CARHCO is Central America's leading retailer with 375 supermarkets and other stores in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica. It has about 23,000 employees and had 2005 sales of about $2.2 billion, Wal-Mart said. Wal-Mart had $312.4 billion in worldwide sales last year.

The new stake gives Wal-Mart control of the company, which will be renamed Wal-Mart Central America, and adds to its growing interests in the expanding economies of Latin America. The region is a key part of Wal-Mart's strategy of growing internationally, including China, Japan and Korea in Asia and Britain and Germany in Europe.

http://news.yahoo.com/s/ap/20060315/ap_on_bi_ge/wal_mart_central_america

[napi21]

1. Good, maybe they'll move to SA or China and leave the US alone!

I'd be thrilled if they just went completely out of the US, retail locations, headquarters and all!

[NorthernSun]

2. Wallyworld

Will make it easier to fund some new Right-Wing dictators down there.

[Jamison]

3. I'll tell you where you won't see a Wal-Mart ever...

Venezuela!

Viva Chavez!

[Kerrytravelers]

4. How much is enough? Really, how much more could that family need?

I'm all for capitalism, but the lifting of restrictions and laws regarding buy-outs and expansion of corporations is destroying not only our country, but the entire freaking globe!