Bridgestone to invest in Costa Rica production and services
Two planned investments will increase Bridgestone’s presence in Costa Rica: The local subsidiary of Bridgestone Americas Tire Operations (BATO), Bridgestone de Costa Rica, has announced the company’s new Financial Shared Services Center for the Latin American Region is to be located in the Central American country. Bridgestone also confirmed it will invest US$70 million in its La Ribera de Belen tyre factory in Heredia province over the next five years.
The new financial services centre will create around 100 new jobs and reportedly enable BATO’s Latin American Tire division better leverage its IT infrastructure, standardise processes and create a flexible organisational structure designed to drive efficiency. Bridgestone says it decided upon Costa Rica as its preferred location as the country offers a highly educated and skilled labour market and is considered an attractive business location.
“Costa Rica is an excellent place to do business,” said Gary Garfield, CEO and President of Bridgestone Americas. “We have received great support from government leaders here. The workforce is highly motivated and skilled, and so there are many strategic advantages to investing in Costa Rica. By locating the BATO LA Financial Shared Services Center here, we will be able to serve the financial needs of all our operations throughout Latin America in a much more efficient and cost effective way.”
“This structure will improve financial services for the business units throughout Latin America,” added Humberto Gomez, President of BATO LA. “This ‘centre of excellence’ will help the company grow and leverage the talents of all our teammates so they can provide world-class service to our Latin America businesses now and into the future.”
The La Ribera de Belen factory entered production in 1967 and produces passenger car, radial light truck, truck and bus and agricultural tyres. The investment in the plant will expand its ability to produce a wider variety of products.