The glory years of one of the most beloved companies by the people of Antioquia are behind us. the textile company weaving announced that it has terminated the process of dismissal of its entire payroll of employees and that it will thus begin the sale of its properties for its total liquidation.
(You can also read: What is the initiative on tax justice presented by Ocampo?)
In May 2022, the company had formally made a collective dismissal request to the Ministry of Labor and Social Security. However, before being approved, the workers’ plant was dissolved.
The textile company had announced on September 9, 2021 the cessation of its operations for the remainder of 2021 and in 2022 it was also semi-paralyzed while the liquidation process progressed.
Currently, the company seeks to find buyers for its production plant in itagui and a tenant for one of its wineries in this municipality.
The sale of a property in the Enciso neighborhood in Medellín had also recently been announced.
In December 2020, weaving it had announced the closure of its factory in the municipality of Itagüí and concentrated all its efforts on the one in Rionegro. However, in July 2021 he stopped his line of ‘nonwovens’ arguing difficulties derived from the national strike (from April to June), smuggling and the covid-19 pandemic.
How the company was born
weavingthe oldest textile company in the country, was founded in 1907 under the name Compañía Colombiana de Tejidos by Alejandro Echavarría e Hijo and R. Echavarría & Cia. In its beginnings it had 1,000 English gold, 12 workers and 4 looms.
For 1909 it was the official inauguration of the company. On February 20, 2001, «as a consequence of the liberation of imports, the revaluation of the Colombian currency and textile smuggling, we accepted Law 550/99 in order to renegotiate the debts and thus continue to be viable.» They count on their official page.
Then, in 2006, the indigo production plant was put into operation with the capacity to produce one million meters per month. Two years later, in 2008, the Kaltex Group of Mexico acquired the majority of the company’s shares by a salvage deal.