Incesa Standard closes manufacturing plant in Costa Rica, lays off 150 employees
Kitchen and bath fixtures company Incesa Standard on Thursday evening confirmed the closing of its manufacturing operation in Costa Rica, which will be relocated to the company’s facilities in Guatemala and Nicaragua.
The company, owned by Colombian business group Corona, in a press release cited high production costs.
“Costa Rica’s staff has done a great job looking to improve their competitiveness. Unfortunately, intensive labor and high energy consumption required by our manufacturing processes are very difficult to achieve with the country’s high production costs,” Incesa’s President Ricardo Pineda stated.
The decision will mean 150 employees from the manufacturing plant will lose their jobs in coming weeks. The company will maintain a staff of 170 in research and development, sales, distribution and administration, as well as at a faucet factory.
You may be interested
Mike Pompeo advises Costa Rica about economic ties with ChinaAlejandro Zúñiga - January 22, 2020
During a press conference following Tuesday's meeting with President Carlos Alvarado, U.S. Secretary of State Mike Pompeo urged Costa Rica…
The best resorts in Costa Rica with a wide variety of animalsJessica Vainer - January 22, 2020
Costa Rica — explored by Columbus — literally translates to “The Rich Coast.” Costa Rica is one of the most…
President Alvarado asks U.S. Secretary of State to review Costa Rica travel advisory, FAA certificationAlejandro Zúñiga - January 21, 2020
President Carlos Alvarado asked U.S. Secretary of State Mike Pompeo on Tuesday to review the North American country's travel advisory…