Continental AG canceled the start of operations of the auto parts factory for Chrysler built in 2008 with $62 million.
The United States automotive crisis and the consequent decline in demand for high-tech devices that the plant would have made forced Continental AG to close the factory that had not yet begun operations.
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.
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.
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The reknowned event "Costa Rica Technology Insight" will hold its sixth edition on June 3 and 4 at the San José Palacio Hotel, in San Jose, Costa Rica, during the "Costa Rica Services Summit 2009", organized by the Foreign Trade Corporation of Costa Rica (PROCOMER) in cooperation with the Chamber of Information and Communication Technologies of Costa Rica (CAMTIC).