A new joint venture WIMPERA S.A. has been formed to produce various types of waterproofing materials and treatments for the construction industry. The new JV will replace the millions of dollars of imports needed by construction industry in Cuba.
According to comments made during the signing ceremony by José Luis Ortiz Valverde, president of the Spanish company Winkler Panamericana S.L and José R Vega Almaguer, president of the Mercantile Society Prodimat, this new JV is the result of several years of collaboration between the two companies. Wimpera will provide the construction industry of Cuba with high-quality waterproofing materials.
Winkler Panamericana has extensive experience in the construction industry sector. Winkler will provide Cuba with the technology and know-how to enable the production of these materials locally.
According to the directors, 85% of the raw materials can be sourced in Cuba which will facilitate the production process and product stability.
Wimpera will guarantee about 80% of the waterproofing materials and estimates the first year of production at 12 million dollars, increasing to approximately 18 million dollars by 2024.
For the construction industry, the new joint venture not only deepens links with commercial partners in Europe but also solves a very important problem in the sector. By 2030, the tourism industry has plans to build another 103,000 hotel rooms by 2030.
Wimpera S.A. is yet another example of the progress made between European and Cuban entrepreneurs with benefits to both.