- Published: Wednesday, January 22, 2020-
Teradyne to invests $20 million for new building in Alajuela
By the A.M. Costa Rica staff
Massachusetts-based Teradyne, Inc., announced that it will invest more than $20 million in the construction of a new facility in the Coyol Free Zone in Alajuela.
Teradyne, listed on the NASDAQ stock market as TER, specializes in tests for smart devices, medical equipment and storage systems. In addition, the company provides testing equipment for semiconductors, electronic systems, and wireless devices.
The new building will have an area of 11,000 square meters, where 350 employees will be relocated. The construction of the building begins this month and is expected to be completed in July 2021, the firm said.
"This year 2020 we started with very pleasant news, Teradyne, a company focused on services, announces its new plant in the country," said Dyalá Jiménez, minister of Foreign Trade.
According to Jimenez, Costa Rica's strategic vision makes it one of the favorite destinations for foreign companies.
During 2019, a total of 44 new projects began operations in Costa Rica, of which 19 correspond to companies that invested for the first time and 25 companies increased its investment, said the ministry.
Teradyne opened the first service center in Costa Rica in 2000. The company provides support to its customers worldwide with hardware and software engineering solutions for new products, as well as services for existing products.
"Thanks to the efforts, commitment and passion of our staff, we have grown rapidly and the company expects to expand further," said Carlos Esquivel, Teradyne's manager in Costa Rica. "We are very proud of what we have achieved during these 19 years of operating in the country, and seeing the growth we have achieved."
According to Esquivel, the corporation has decided to invest in the construction of the new building so Costa Ricans can work more efficiently, with more space for production laboratories and recreational areas for employees. The new building will have additional space for expansions.
According to Greg Smith, president of the Teradyne Semiconductor Testing Division, since the beginning of operations in Costa Rica, the number of employees has almost doubled.
Data provided by the Costa Rican Investment Promotion Agency, known as CINDE by its acronym in Spanish, says 70% of foreign investment is due to the reinvestment of companies that are already operating within the country.
In 2018, Teradyne had revenues of $2.1 billion, and today employs 5,400 people worldwide, CINDE said in its statement.
The firm could be hiring employees in areas such as electronic hardware design, software design among others. People interested in working in this company can find more information on the Teradyne site.
--------------------------------
Which other American company could open operations in Costa Rica? We would like to
know your thoughts on this story. Send
your comments to news@amcostarica.com |
|
