Continental AG, a Germany-based manufacturer of auto components and
tires, will open a new electronic car parts facility in Costa Rica.
According to officials from the country's economic development agency,
Continental AG will invest approximately US$61 (approximately 317,200
million colones) in its first year of operations, and create 350 new
jobs. The company expects to add at least 200 more in the first three
years of operations. Company officials chose Costa Rica in part for its
proximity to the United States, and plan to make use of the advantages
afforded to Costa Rica via the Central American Free Trade Agreement
(CAFTA) to export its products to the U.S. Costa Rica is the third
Latin American country in which Continental has established operations;
they currently have seven plants in Mexico and Brazil.
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