Teradyne Announces Major New Investments in Costa Rica
- New $20 million facility planned for Coyol Free Zone.
- Will provide more than 70% greater capacity for engineering, electronics service, and IT support than existing facilities.
- Construction to begin immediately.
San José, Costa Rica. January 20th 2020 — Teradyne, Inc. (NASDAQ:TER) announced today that it will invest over $20 million in a new facility in Coyol Free Zone. The new 11,000 square meter facility brings together over 350 employees who are now located in multiple offices in the area. The project will begin in January and is expected to be completed in 2021.
The Minister of Foreign Trade, Dyalá Jiménez, said: “We start this year with very pleasant news. Teradyne, a company focused on services, establishes in the country. We appreciate the vote of confidence and we commit ourselves to continue working to enhance and adapt to the international market’s needs. Costa Rica is one the companies’ favorite destinations due to our strategic vision. In 2019, 44 new projects were created, of which 19 correspond to companies that invested in Costa Rica for the first time and 25 had reinvestments”.
Teradyne established a service center in Costa Rica in 2000 and has been steadily growing the number of employees and their activities for nearly 20 years. Today the team supports Teradyne’s customers around the world with hardware and software engineering for new products along with ongoing engineering and service support for existing products. The site also provides IT, finance, and other administrative support to internal Teradyne users worldwide.
“Thanks to our staff’s endeavors, commitment, and passion, we have quickly grown, and the company is looking forward to expanding even more,” said site manager Carlos Esquivel. “We’re very proud that Teradyne is investing in this new building in Coyol Free Zone in Alajuela as it shows their confidence in our work. The expanded facility will allow us to work more efficiently with more room for laboratories, production space, and even has a nearby fitness center and nature trails. The site also has plenty of room for future expansion as well.”
“Our team in Costa Rica is a key part of Teradyne’s global test business and is a fundamental part of our plans for future growth,” said Greg Smith, President of Teradyne’s Semiconductor Test business. “With a great pool of talented and hardworking people in Costa Rica, we’ve nearly doubled the size of our team here in the last five years, and we’re delighted with the support they provide to our customers and Teradyne global employees. We’re investing in the new facility to provide a better work environment for the team and to provide room to add staff in the future.”
Jorge Sequeira Picado, Managing Director of CINDE, added: “70% of Costa Rica’s foreign direct reinvestment was thanks to multinational companies. Teradyne started operations in 2000 and over time has strengthened its engineering services and worldwide client support, demonstrating confidence in the Costa Rican human talent and the country’s competitiveness, turning its local facilities into a fundamental piece within the global business strategy. "
Those interested in applying to the new job positions, please visit:
. According to the Human Resources department, the company will hire personnel in areas such as: electronic hardware design, PCB design, development and validation of processes, applications and automatic tests, software design, electronic card repair, technical support in information technologies, among others.
Teradyne (NASDAQ:TER) brings high-quality innovations such as smart devices, life-saving medical equipment and data storage systems to market, faster.
Its advanced test solutions for semiconductors, electronic systems, wireless devices, and more ensure that products perform as they were designed. Its Industrial Automation offerings include Universal Robots collaborative robots and MiR and AutoGuide mobile robots that help manufacturers of all sizes improve productivity and lower costs.
In 2018, Teradyne had revenue of $2.1 billion and today employs 5,400 people worldwide. For more information, visit teradyne.com. Teradyne® is a registered trademark of Teradyne, Inc. in the U.S. and other countries.