Retailer Sodimac Colombia to raise investment 46.7 pct this year
BOGOTA, July 15 (Reuters) - Home supply chain Sodimac Colombia, partly owned by Chilean retailer Falabella, will increase 2015 investment by 46.7 percent from the year before as it plans to open and remodel stores, a company official said on Wednesday.
Investment will rise to 220 billion pesos ($81.8 million) from 150 billion in 2014, Miguel Pardo, the company's general manager, told journalists.
Local conglomerate Corona owes 51 percent of Sodimac Colombia, while Falabella controls the remaining 49 percent. Sales in Colombia were up 10.7 percent in the first quarter from a year earlier, he added.
Besides Colombia and Chile, Sodimac also operates in Peru, Argentina, Brazil and Uruguay.
($1 = 2,688.20 Colombian pesos) (Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb; Editing by Jeffrey Benkoe)
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