In 2010, after Castro's illness, CIMEX was absorbed into the military consortium GAESA. Other employees were typically recruited from armed forces, the Ministry of the Interior, or the Young Communist League and reportedly required three recommendations from those loyal to the government.
One former president of the company, Eduardo Bencomo Zurdos, was a doctor for and personal friend of Castro. In the first decades of its existence, CIMEX was headed by military commanders chosen by Fidel Castro. Headquartered in Havana, it is also the first domestic Sociedad Anónima. Beyond Latin America and Europe, CIMEX also oversees some businesses as far away as Liberia and Japan. It also established operations in Mexico, Spain and Florida. History ĬIMEX was founded by the Cuban Ministry of the Interior in 1978 in Panama to circumvent United States sanctions.
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The company has pledged to crack down on staff marking up products for personal profit at its 1,300 stores around the island. On the Island itself, CIMEX operates Panamericanas general stores, Servi-Cupet gas stations and other retail outlets. Among the most well-known of its dozens of subsidiaries is Kave Coffee. ĬIMEX is also in charge of exporting domestically-produced goods such as rum, coffee, cigars, apparel, ice cream, perfume, jewelry soda and fruit juice. With this reach across the tourism and financial sectors, CIMEX maintains a monopoly on travel and wire transfers between Cuba and the United States. In the tourism sector CIMEX encompasses Havanatur, the oldest and largest travel agency in Cuba, Havanauto, the largest car rental agency, as well as businesses supporting various hotels and resorts. CIMEX also operates more than 100 Western Union outlets in Cuba. Both banks have been accused of being involved in money laundering for drug trafficking activities. The company operates the Banco Financiera International, one of top three most-important banks in the country, and the Banco de Inversiones. One scholar noted that "because state agencies and joint ventures do not publish annual reports, the logic behind the organization of CIMEX is unclear." Others have called it "an octopus of many tentacles" due to its diverse holdings. Little is known about the exact nature of the company's operations. It has since been absorbed by the military consortium GAESA.ĬIMEX operates outside the socialist norms of Cuba's economy and serves to earn hard currency through profit-seeking investments – often through tourism or other industries that serve the monied Cuban diaspora in Miami and beyond. It has been called Cuba's largest commercial operation, and is headed by Colonel Héctor Oroza Busutil. (from Spanish: Comercio Interior, Mercado External for "Domestic Business, External Market") is a state-owned conglomerate in Cuba involved in the import and export of goods, as well as tourism and banking. We secure the ingredients of the Group and guarantee their availability and conformity.įrom sourcing to the delivery of ingredients to the factories, we ensure the quality and safety of ingredients and guarantee their conformity in terms of specifications and regulations.A CIMEX-branded gas station in Santa Cruz del Norte.Ĭorporación CIMEX S.A. We develop new technologies and innovative solutions.īy developing expertises in green chemistry, biotechnology and innovative processes, we bring a step ahead of the market. The choice we have made to develop eco-responsible processes and more natural ingredients enables the Group to meet the expectations of consumers in terms of exemplary performance. We contribute to the achievement of L'Oréal for the Future and TRUST objectives. The ingredients and processes we develop are exclusive and serve objectives of differentiation in a competitive market. We guarantee to L'Oreal the exclusivity and intellectual property of the ingredients. Thanks to our membership of the Group and our close collaboration with the divisions and brands, we can provide innovative responses to formulation, operational, marketing and budgetary challenges. We understand the issues and needs of L'Oréal.
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