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CINDE Costa Rica

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Escazu, San Jose, Costa Rica

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Press Release

Okay Industries Expands Operation in Costa Rica and Reinvests US$ 2 Million

MAY 25th 2017

Will hire operators, precision mechanics, and staff with knowledge in finance and administration.

Costa Rica, May 25, 2017. US-based Okay Industries reinvested US$ 2 million in Costa Rica, which will expand its plant operation and will also acquire new state-of-the-art equipment to manufacture medical device industry parts.

Okay industries, located in El Coyol, Alajuela, at Z Free Zone, is a manufacturing company focused on high engineering metal components and assemblies. Its focus on the design and manufacturing of complex metal components is the basis of its competitive advantage and is the origin of its beginnings for more than 100 years ago. 

Alexander Mora, Minister of Foreign Trade commented: "Medical devices have allowed the country to diversify its exports and they already represent the second item as a sector in national exports, only after the agricultural sector. In addition, thanks to this sector, a robust ecosystem has been developed in Costa Rica with local suppliers, which have brought up a solid base of productively chained suppliers. This has undoubtedly strengthened our positioning, and today we are one of the leading global destinations for investment in Medical Technology, which includes such well-known companies as Okay Industries. We are delighted to know that this company, after five years of operating in Costa Rica, continues to find the right investment conditions to incorporate increasingly sophisticated and high value added processes, as well as continuing to add more and more Costa Ricans to their operations. We congratulate Okay Industries for its growth, and we thank them for the confidence vote deposited in the country. The Costa Rican trade institutions COMEX, PROCOMER and CINDE, renew their willingness to work as a team to support the company in its growth process. 

The General Manager of the company in Costa Rica, Mario Chaves, said "our human talent has been the key to the growth of our company, since we started we have focused on hiring good citizens, we are very clear that what we do is impacting the life of people both inside and outside the organization, with the active living of our values that result in products of the highest quality, combined with innovation and new technologies; always betting on the personal and professional growth of our associates. 

The current payroll of Okay Industries is 55 employees and with the new investment, it would be generating approximately 30 new jobs between operators and engineers. Those interested can apply to recutamiento@okaycr.com  

The Managing  Director of the Costa Rican Investment Promotion Agency (CINDE), Jorge Sequeira, said "Okay Industries found in Costa Rica a solid and robust platform to grow its businesses. This investment in new equipment and the generation of new jobs is a reflection of the importance that headqaurters is giving to this operation in Costa Rica, which we hope will continue to grow and expand to new manufacturing processes. " 

This is the fifth year of the company operating in Costa Rica. In its 1,600 square meter plant, the company will now have the ability to make nano machining, as well as merging laser cutting technologies with secondary forming processes carried by hypotubes and tubes used in the industry, thanks to the new laser manufacturing equipment that they at have developed and will be installing at the CR plant. 

About Okay Industries 
With more than 200 employees globally and 55 in Costa Rica, Okay Industries has become an important partner for the leading companies in the medical sector and other key sectors that require products with a high standard of complexity and quality. 

For more press info
Carlos Morales 
CINDE
2201-2830