Continental spurs hopes for Costa Rican auto industry
A decision by Germany's Continental AG to invest in Costa Rica rather than Mexico shows that Costa Rica has got what it takes to become a regional leader of the auto industry, senior officials said.
Wednesday, April 30, 2008
Continental is investing US$61.5 million in a plant to make electronic components for car transmissions that will employ 600 workers in Costa Rica. Earlier it had considered locating the plant in Mexico.
Continental AG canceled the start of operations of the auto parts factory for Chrysler built in 2008 with $62 million.
At the Investment Forum "Grow Together", the automobile company Arnecorn announced the transfer of its a warehouse in Monterrey to Leon in Nicaragua.
The Guatemalan government has announced that the bus manufacturer HIGER is studying the feasibility of installing an assembly plant for light vehicles in the country.
The increase in used car imports in recent years is driving growth in sales of spare parts and auto parts in the country.
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