Last year the American multinational announced that it He came from Argentina and put his entire operation up for sale. This is how it managed to get rid of two of its iconic brandsAriel, for washing clothes and Magistral detergent at the hands of the local group Dreamco.
And in what is almost a trend, local businessmen who take advantage of the departure of “exhausted” multinationals with Argentina, this morning the decision of Newsan, the electronics leader in Tierra del Fuego, to keep the rest of its operation in the country, which includes las marcas Always, Gillette, Head & Shoulders, Oral-B, Pampers y Pantene, entre otras.
The operation includes a plant in San Luis. And the amount was not reported, although it was revealed that it will come from Newsan’s own funds.
Procter made the decision to leave Argentina before Javier Milei took office. In December 2023, its global financial manager, Andre Schulten, assured that it was “difficult to create value and operate in the country due to the macroeconomic environment.”
It is an American consumer giant with sales of US$ 85 billion. The company, which settled in the country in the early 90s, has the plant in Villa Mercedes, San Luis, where it produces diapers (Pampers), feminine wipes (Always) and a portion of Gillette products. It also has the Pantene and Head & Shoulders shampoo brands and Oral-B in dental care.
Its first buyer for soap and detergent, Dreamco, was born two years ago when the Peruvian Alicorp left the country and transferred brands such as Plusbelle, Zorro, Okebon and others to it.
The case of Newsan is different. It is dedicated under the controversial tax benefits regime from Tierra del Fuego to the manufacture, marketing and distribution of consumer electronics and household items. The company was founded in 1991 and its main shareholder is Rubén Cherñajovsky, with close political ties to Daniel Scioli, currently an official of Javier Milei.
The market sees this operation as an advance to diversify in the face of the possible cutback of the Tierra del Fuego regime. They already took a step when they grew in the fishing business: today they are the main exporters of the sector.