The sugar industry in Camagüey, in contrast to western Cuba, had a slow development until the early twentieth century and remained second in economic activity (cattle was first) in the region.Between 1913 and 1920 thirteen new sugar mills were built. In the mid-1950s, seven major US financial groups controlled sixteen of the twenty factories. After 1959 and the process of nationalization, it was not until the 1970s that began to make large investment programs in the sugar industry that made possible the construction of two new sugar mills. In 2011, the state group AZCUBA was formed. This company is part of a bigger international conglomerate.