Sterigenics to Build Plant in Costa Rica
Source: www.ticotimes.net
By Adam Williams
Sterigenics International, a U.S.-based medical devices manufacturing company, announced Friday that it will construct a plant in Costa Rica. The plant, which will be built in a yet-to-be-determined free-trade zone, is expected to be completed by the end of 2011 and to begin operations in January 2012.
The company, headquartered in Oak Brook, Illinois, is the third U.S. medical supplies company in the last month to announce that they will expand or begin operations in Costa Rica.
“Costa Rica is an attractive center for the manufacturing and distribution of medical devices,” said David E. Meyer, the President and CEO of Sterigenics. “This project is an excellent opportunity for us to implement our global expansion strategy.”
According to the Costa Rican Investment Board (CINDE), the plant will bring an estimated investment of $7 million during the first stage of the project. Attracting foreign direct investment is an often-voiced goal of the administration of President Laura Chinchilla. In late September, Chinchilla rang the bell at the New York Stock Exchange and told the crowd of stockbrokers that her administration “is working very hard to continue to continue inviting U.S. companies to invest in our country.”
Chinchilla has stated that she hopes to bring in $9 billion in foreign direct investment during her presidential term. In 2009, the export of medical products generated more than $1.34 billion for the economy and accounted for 15.5 percent of the nation’s total exports.
Sterigenics International produces sterilization and ionization products for the medical services, pharmaceutical and food safety industries. The company has over 1,300 employees in 38 international service centers. The Costa Rican location will be the first in Central or South America.