Date

12 de May 2016

CASTEM inaugurates in Bogota its first factory outside Asia

investment news

The Japanese high-precision tool manufacturer inaugurates the company’s first plant in the Americas, that is to serve the local market and export to Mexico and the United States.

CASTEM inaugurates in Bogota its first factory outside Asia

As explained by Takuo Toda, CEO of Castem, "Colombia is a destination where we have found all the possibilities available for the expansion of our company in Latin America, thanks to its human potential and the its growth potential. Institutions such as the SENA have been strategic partners in providing excellent workers. The professionalism and drive of the Colombian worker sustains the economy, and free zones have a key role in attracting foreign investment. We are in Colombia, and the support of its government has been critical for us."

The commissioning of the Castem plant in Bogota involved an investment of USD 9.5 million and the creation of fifty jobs for workers and professionals who are trained by the company’s Japanese personnel in Colombia.

In Castem’s view, Colombia has one of the strongest economies of the Americas, as well strategic partners that facilitate the arrival of foreign investment, such as ProColombia and Invest in Bogotá. This new division will be commanded by Yuki Nobori, the Japanese executive who has accompanied the entire installation process in the country. His extensive experience in the sector and his profound knowledge of the company will contribute to underpinning the operation that will serve as an axis for future expansion outside Asia.

Invest in Bogota and ProColombia accompanied Castem throughout the process of its deciding on Colombia as the site for its business and the Japanese firm’s installation in the Colombian capital, in a move that began within the framework of the visit of the Japanese Prime Minister Shinzo Abe to Bogota in July 2014.

"Castem is the first Japanese company that Invest in Bogota has supported throughout the process of establishing and opening operations in Bogotá. We hope that with the arrival of this investment project, and the campaign to promote opportunities that we will be launching in the second half of this year, in Japan by the way, more doors will be opened for more Japanese companies to come and transfer technology, knowledge and innovation to the city-region," says Juan Gabriel Pérez, CEO of Invest in Bogotá.

Castem believes that being in Colombia will allow it to increase its presence in the region through new channels and business partners, in order to exploit the potential of the local market and the evolution of markets in the Americas and thus consolidate its expansion strategy.