Intel Corporation (NASDAQ:INTC) Moves Out Of Costa Rica


Dallas, Texas 04/11/2014 (FINANCIALSTRENDS) –  Intel Corporation (NASDAQ:INTC), the world’s leading chip maker has finally ended all speculation about its Costa Rica foray.

In a recent statement, the company has confirmed that it will close down its micro-ship assembly as well as the testing operations, in the next half-year. This is expected to move nearly 1500 employees away from the job.

Intel Corporation (NASDAQ:INTC) has also announced that it will continue to maintain its Belen, Heredia, which is a region north of the capital. Secondly, it has maintained that it will move the assembly lines to Asia.

Intel Corporation (NASDAQ:INTC) will have engineering as well as design departments in its sectors. These will now employ 1,000 workers and it will also create 200 new jobs in the Asian facilities.

Intel Corporation (NASDAQ:INTC) has had a formal review and restricting of operations plan in place. The conclusion after prolonged discussions indicates that, “the best long-term solution to maximize global operational efficiency and effectiveness is to close its assembly and testing operations in Costa Rica.”

Costa Rica government denies high utility costs

The Foreign Trade Minister at Costa Rica, Anabel Gonzalez has refuted allegations that, the current public utilities or the political environment were not cause enough for the company to move out of his country.

Gonzalez offered the explanation that, the closure of the CostaRican unit was part of the greater plan by the company to move forward on the global arena. Intel has apparently closed down other units located in United States, Malaysia as well as Spain.

Other officials of the Costa Rican government such as the President of the Costa Rican Chamber of Industries, too have made similar comments, “Intel is one of our affiliates and we deeply regret the decision they were forced to make.”  He also reiterated that the conditions are ideal for  large technology companies, besides other sector companies as well.