Ecuador’s Bananera Continental Banacont and Industrial Cartonera Ecuatoriana (owned by the Noboa Group) have this week resumed operations, according to a report by El Universo.
The two companies were shut down on 30 May by Ecuador’s inland revenue (SRI) for allegedly failing to produce 2010 tax payment documents on time.
Group shareholder álvaro Noboa has claimed the suspension has resulted in US$5m in losses – US$4m at Banacont and US$1m at Industrial Cartonera, the report said.
Mr Noboa added that the sanction has also affected banana production, workers and their families as well as the transport sector and others related to the banana business.
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