CINDE announces: East West invests US$2 million in Costa Rica and will be hiring 50 more people

SAN JOSÉ, Costa Rica, April 16, 2020 /PRNewswire/ -- East West Costa Rica, a company in the advanced manufacturing sector that is dedicated to global manufacturing of components, sub-components, and finished products for original equipment manufacturers (OEM) and distributors, announces an investment of more than US $2 million for its operations in Costa Rica.

The company, which is located in the BES free trade zone in Alajuela, will be investing in new machinery to automate production lines and to introduce new productive processes in Costa Rica. Currently, the company has more than 180 employees and expects to hire more than 50 more people for diverse areas and company levels during the year 2020.

The operation in Costa Rican expects growth of 25% in sales due to the transfer of projects from the United States to Costa Rica. This measure is being taken at the headquarters given the excellent results obtained in the country with emphasis being placed on the quality of the staff and the end product leaving its plant.

The company's strategy will be to use economies of scale and to send higher volume projects to Costa Rica to provide a production alternative that is optimized for its customers.

Information provided by CINDE shows that, as of the 2019 close, the advanced manufacturing sector employed more than 9,630 people and recorded 44 companies in this strategic sector.

The minister of foreign trade, Dyalá Jiménez, commented: "The announcement made by the East West company fills us with pride and continues to motivate us to work to position ourselves in greater competitive conditions. Today more than ever this is great news because it translates into employment opportunities. We are deeply grateful to East West for its trust in our country and its long-term wager."

Marco Fernandez, the East West general manager, commented: "The strategic acquisition of General Microcircuits that took place at the beginning of 2019 by East West Manufacturing involved taking advantage of the human resources, quality, talent, and production capacity as its main strategy. It was meant to transfer high-volume projects to our operations in Costa Rica from the different East West branches. This involves investing in plant capacity, automation and staff to underwrite the long-term commitment to the work and investment made in the country up to this point."

Jorge Sequeira Picado, the CINDE managing director, commented that: "The advanced manufacturing companies have made it possible for the number of jobs created by the sector since 2000 to double, reaching more than 9,600 job positions in 2019. Likewise, the number of active companies in the country has grown 1.5 times over that same period of time. With this new investment, East West Costa Rica was able to increase its manufacturing volume and generate greater value added for its processes by taking advantage of the economies of scale to the benefit of its customers and, in turn, have a positive impact on the development of this human talent."

The company will seek to recruit staff for areas such as: accounting, purchasing, electromechanical techniques, industrial engineers, logistics, production operators, and supervising, etc.

About East West
East West is more then a global manufacturing company. The company is capable of assisting with projects that are already underway where there is a need for a new vendor or to scale up production.  The company manages projects from design up to product delivery. The company is able to take a concept, turn it into a design, manufacture it with the highest world-class standards, and manage the whole logistics chain until the product is delivered to your door.

SOURCE Costa Rican Investment Promotion Agency

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