OKAY Industries , New Britain, CT, a contract manufacturer of metal and plastic overmolded components and subassemblies for global medical device original equipment manufacturers (OEMs), is expanding its Costa Rica operations. Phase one of the expansion includes building a 62,000 sq. ft world-class manufacturing facility in the new Evolution Free Zone, a sustainable, smart manufacturing and life sciences Free Trade Zone business park, located in Alajuela Province, Grecia, Costa Rica.
The relocation of OKAY’s current Costa Rica operations is expected to be completed by summer 2024. The first phase expansion will double the company’s current footprint to support capacity growth and demand. Future phases will allow OKAY to expand an additional 58,000 sq. ft. Overall, the expansion will add approximately 200+ jobs to the area.
“Costa Rica’s strategic location is very attractive for nearshoring needs. Additionally, the new Evolution Free Zone and its integration of community and global standards of excellence aligns with our corporate culture that supports a sustainable workplace environment, says Mario Chaves, vice president, OKAY Industries, Costa Rica. “This investment shows our commitment to meeting our customers’ current and future needs.”
According to the company, OKAY is committed to investing in solutions that mitigate supply-chain disruptions, meet nearshoring/reshoring needs, and ensure business continuity for its customers. The move supports OKAY’s aggressive growth plans to strategically position itself as a reliable, additive, long-term partner in the next generation of innovative patient healthcare solutions.
Since the U.S.-based company expanded its operations in Costa Rica 10 years ago, its business has grown exponentially alongside the major growth of the medical device industry within the country. The company’s continued investment in its Costa Rica operations also aligns with its mission and culture to be a global neighbor committed to economic development and smarter, healthier, and sustainable operations.
“We are grateful for our global medical device customers and the confidence they continue to have in OKAY and its talented team to manufacture critical components and assemblies,” says Jason Howey, president and CEO. “Our investments within Costa Rica and the U.S. are not only a direct response to customers’ needs but a commitment to investing in our collective partnerships to save and improve lives around the world.”