Bridgestone to Invest $250M in Costa Rica

Bridgestone to Invest $250M in Costa Rica

The company will increase its production capacity by 36% for the local market, as well as for export.

CINDE, the Investment Promotion Agency of Costa Rica, is celebrating Bridgestone Americas’ $250 million investment over the 2022 to 2026 period, to expand its tire manufacturing operations in Costa Rica.

The company will increase its production capacity by 36% for the local market, as well as for export. In addition, it will create more than 160 new jobs, adding to the 1,850 people who the company already employs. 

Bridgestone began local operations in Costa Rica in 1967, becoming a pioneer in the country’s manufacturing sector at its Belén, Heredia, plant with a vision to provide products of superior quality.

Fifty-five years have passed since the company first arrived at Costa Rica and for this reason, CINDE is highlighting both Bridgestone’s trajectory and trust, from a company dedicated to the production of tires for vehicles, trucks and agricultural transport. Bridgestone is a prominent corporation and has been able to diversify its operations in the country, by expanding end markets and establishing its Shared Services Center (financial and accounting) for the Latin American market, from its Costa Rican operations.

As indicated in a company press release, this new investment will increase both the company’s production capacity and its technology, which will allow Bridgestone to supply future mobility markets and thus, continue serving customers in the United States and Latin America. 

Among Bridgestone’s operations in Costa Rica, standouts include its mobile attention services, Bridgestone Business Services, and the Firestone industrial products manufacturing plant, located in Turrialba and representing one of the first multinational operations outside the Greater Area Metropolitan, which boosted the local economy and created employment for 250 people in the region.

In addition, the company established a new business division for commercial activities under the Free Zone scheme. 

From 2020 to date, Bridgestone Costa Rica has invested more than $38.5 million, of which $36 million has been allocated to modernization and efficiency projects at their tire manufacturing plant, $2 million allocated to expanding diversified products in Turrialba; and $500,000 more to strengthen Bridgestone Business Services (Shared Services Center) operations.

You May Also Like

Hengst Filtration Acquires Canadian-American Filter Company

Hengst will take over North American hydraulic filter manufacturer Main Filter.

Hengst Filtration Acquires Canadian-American Company

German filtration company Hengst Filtration announced its takeover of the North American hydraulic filter manufacturer Main Filter, which is based in both Sault Ste. Marie, Ontario, and Lincolnton, North Carolina. Hengst described Main Filter as a "respected manufacturer of hydraulic filters for more than 35 years." The acquisition comes three years after Hengst acquired the hydraulic filter business of Bosch Rexroth.

BASF Exhibiting at The Battery Show Europe 2024

The company will present its range of products targeted to enable advancements of battery technologies and future automotive mobility.

BASF-Exhibiting-at-The-Battery-Show-Europe-2024
WAI Releases 116 New Part Numbers

The new part numbers include starters, alternators, wiper motors, sensors, and transfer case motors.

WAI Announces 116 New Part Numbers
The Digitalization of Mexico’s Automotive Manufacturing Industry

Ibarra discusses the future trends in the digitalization of the automotive industry in Mexico, and how companies should prepare for them.

The-Digitalization-of-Mexicos-Automotive-Manufacturing-Industry
Martinrea Invests $35 Million to Expand Ontario Facility

The company said the new addition will house a new SIMPAC 3000 metric ton stamping press.

Other Posts

Polestar Integrates Renewable Fuels for Ocean Freight

The company is reducing supply chain emissions by integrating renewable fuels on its ocean freight routes, which account for around 75% of its total transportation emissions.

Polestar-Integrates-Renewable-Fuels-for-Ocean-Freight
MEMA to Host International Supply Chain Webinar

The content of the webinar will be beneficial to operations, logistics and purchasing teams, the organizations said.

Gemini-Shippers_MEMA-webinar
Iveco, Foton Announce Joint Exploration Project

The two companies will look into future synergies in the areas of electric vehicles and components.

Hyundai Motor, Iveco Group Partner on Electric H-D Trucks
Andreas Nix Takes Over as COO of ZKW Group

Nix replaces Stefan Hornvuis, who left the company for personal reasons.

https://www.aftermarketnews.com/zkw-named-headlamp-supplier-for-the-bmw-xm/