Twin Cities Business spoke with Dave Liebl, Intricon’s Chief Commercial and Technology Officer, about the company’s strategic expansion into Costa Rica.
Intricon Corp. is on the cusp of opening its seventh facility, this time in the Evolution Free Zone, a technology-oriented business park in Grecia, Costa Rica. The facility is slated to open in 2024. By the latter half of the year, Intricon will add production jobs and eventually employ up to 150 people at the site.
Excerpt from the article:
The Arden Hills-based company went from public to private early last year as it was acquired by Altaris Capital Partners for $241 million. Altaris is “ready, willing and able” to infuse capital in the business to help it grow faster, said Dave Liebl, Intricon’s chief commercial and technology officer. Intricon develops and manufactures sensor-driven micromedical devices, like biosensors and electromagnetic sensors, that can be used in hearing aids and other medical devices.
Liebl said Costa Rica gives Intricon a low-cost manufacturing option. The facility will be 35,000 square feet with room to grow another 150,000 square feet. The move will expand Intricon’s global footprint to 280,000 square feet, adding to its three locations in Minnesota, two in Singapore and one in Indonesia.