CINDE Celebrates Bridgestone's Largest Expansion in Costa Rica in the Last 20 Years

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Nov 29, 2022, 09:00 ET

SAN JOSÉ, Costa Rica, Nov. 29, 2022 /PRNewswire/ -- CINDE, the Investment Promotion Agency of Costa Rica, celebrates Bridgestone Americas' $250 million investment over the 2022 to 2026 period, to expand its tire manufacturing operations in Costa Rica.

The company will increase its production capacity by 36% for the local market, as well as for export. In addition, it will create more than 160 new jobs, adding to the 1,850 people who the company already employs.

Bridgestone began local operations in 1967, becoming a pioneer in Costa Rica's manufacturing sector at its Belén, Heredia plant with a vision to provide products of superior quality.

Fifty-five years have passed since the company first arrived at Costa Rica and for this reason, CINDE is highlighting both Bridgestone's trajectory and trust, from a company dedicated to the production of tires for vehicles, trucks, and agricultural transport. Bridgestone is a prominent corporation and has been able to diversify its operations in the country, by expanding end markets and establishing its Shared Services Center (financial and accounting) for the Latin American market, from its Costa Rican operations.

As indicated in a company press release, this new investment will increase both their plant's production capacity and its technology, which will allow Bridgestone to supply future mobility markets and thus, continue serving customers in the United States and Latin America.

Among Bridgestone's operations in Costa Rica, standouts include its mobile attention services, Bridgestone Business Services, and the Firestone industrial products manufacturing plant, located in Turrialba and representing one of the first multinational operations outside the Greater Area Metropolitan, which boosted the local economy and created employment for 250 people in the region.

In addition, the company established a new business division for commercial activities under the Free Zone scheme.

From 2020 to date, Bridgestone Costa Rica has invested more than $38.5 million, of which $36 million has been allocated to modernization and efficiency projects at their tire manufacturing plant, $2 million allocated to expanding diversified products in Turrialba; and $500,000 more to strengthen Bridgestone Business Services (Shared Services Center) operations.

SOURCE CINDE