Tegra buys plant in Costa Rican tax-free trade zone

June 29, 2010 by MassDevice staff

Tegra Medical acquires Penn United Technologies Inc.'s manufacturing operation San Jose, Costa Rica, in a tax-free trade zone.

Tegra logo

Tegra Medical acquired a San Jose, Costa Rica-based manufacturing plant.

The Franklin, Mass.-based contract manufacturer bought the 20,000-square-foot facility from Penn United Technologies Inc., a manufacturer of metal components and assemblies. Tegra currently has 200,000 square feet in manufacturing space across four locations.

The current Costa Rica facility can provide metal working capabilities with electrical discharge machining, precision grinding, turning, milling, waterjet, stamping and assembly, Tegra said.

The company will also be extending the plant's manufacturing capabilities over the next several months, as well as submitting for ISO 13485:2003 and 9001:2008 certification to upgrade the facility to the same level of its current operations.

The plant is in Global Park, a tax-free trade zone where several other medical device companies run facilities, Tegra said. Boston Scientific Corp. (NYSE:BSX) recently laid off 1,400 workers in Doral, Fla., in preparation for a move to Costa Rica. The country's medical device manufacturing industry is growing and employs over 9,000 workers.

Venture capital firm Riverside Partners, which launched Tegra in 2007 by funding the combination of New England Precision Grinding, Accu-Met Laser and American Medical Instruments into a single entity, has expanded the company rapidly. In January, it partnered the Miss.-based contract manufacturer CTW Inc. with Tegra to extend both companies' reach with OEMs in the orthopedic market.