Central Romana Corporation Explained

Central Romana Corporation
Type:Private
Foundation:1912
Predecessor:Gulf and Western Americas Corporation
Location:La Romana, Dominican Republic
Industry:Agriculture, tourism
Owner:Fanjul Corp. (35%)
Homepage:https://centralromana.com.do/en

Central Romana Corporation, Ltd. is an agro-industrial and tourism company based in the Dominican Republic.[1]

History

Central Romana Corporation was established in 1912 as a subsidiary of South Puerto Rico Sugar Company.[2] In 1967, South Puerto Rico Sugar was acquired by Gulf and Western Industries, becoming part of its Gulf and Western Americas Corporation division.[3] In 1984, Gulf and Western Americas was sold to a group of investors including Carlos Morales Troncoso and the Fanjul brothers.[4]

Controversies

In 2022, the government of the United States sanctioned Central Romana Corporation after investigating the company and concluding that it had been using forced labor on its sugarcane fields.[5] The company denied the allegations.[6]

Notes and References

  1. https://centralromana.com.do/ Estructura Corporativa
  2. https://centralromana.com.do/memorias/
  3. News: G. & W.'s Role in the Caribbean. The New York Times. June 24, 1975.
  4. Web site: Sugar Sale By G.&W.. The New York Times. October 6, 1984. 2023-06-15.
  5. https://www.cbp.gov/newsroom/national-media-release/cbp-issues-withhold-release-order-central-romana-corporation
  6. Web site: Central Romana rechaza acusaciones de Estados Unidos sobre trabajo forzoso. 2023-05-20. diariolibre.com.