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
Trump: US to begin cutting aid to Central America over migrant caravanAFP - October 23, 2018
President Donald Trump said Monday the United States will begin cutting aid to three Central American nations because of their…
The Tico Times Dispatch: An interview with journalist and economist David ChingAlejandro Zúñiga - October 23, 2018
Costa Rica’s Plenary Court rejected the proposed tax reform bill last week and asked that four sections of the initiative…
Soy pico rojo: the new form of protest in NicaraguaLa Prensa - October 23, 2018
Social media has been filled with photos of men and women wearing red lipstick as a way of protest Daniel…