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Bulletin 710 - Friday, May 8, 2015


Manufacturing employment increases in Mexico

Manufacturing jobs went up 3.1% in February 2015, compared to February 2014, reported the National Institute of Statistics and Geography (INEGI). Based on the results of the Monthly Survey of Manufacturing Industry (EMIM), in February 2015, there was also a 2.6% increase in worked hours, while average wages grew by 1%. In seasonally adjusted data, the report said that the labor force from this sector recorded an increase of 0.2% in February compared to January 2015. Workmen reported an increase of 0.4% hours worked in this period, while other employees worked 0.2% hours more. Average earnings increased by 0.7% for factory hands and 1% for other employees, while social benefits increased 0.7% compared to January 2015.

Source: Manufactura

Toyota lures 200 auto-part manufacturers to the Bajio region

With Toyota’s arrival to Guanajuato, 200 automotive supply companies both domestic and foreign, are expected in the region, which will trigger investments of over US$483,000 in three years. Although the entire state will be benefited, the Laja-Bajio region will become the main hub of the automotive sector supply chain, since Apaseo el Grande, Celaya and Salamanca municipalities are located in this area where the Mazda, Honda and now Toyota facilities were set up, stated the Guanajuato´s Governor, Miguel Marquez Marquez.

Source: Cluster Industrial

Goodyear Tirer to invest in new plant in Mexico

The tire manufacturer Goodyear Tire & Rubber Co. plans to invest US$550 million in a new plant in Mexico. The Goodyear´s plant, which will begin operating by 2017, will produce tires for the local market mainly. The announcement of the investment will be made once Toyota and Ford have unveiled their plans for expansion in Mexico, with its free trade agreements and its proximity to the U.S. Last week, Toyota informed about an upcoming investment of US$1 billion in an auto plant and Ford announced a capital injection of US$2.5 billion to expand operations in engines and transmissions.

Source: Dinero en Imagen

Rio Bravo Tank will invest in Coahuila

Rio Bravo Tank Company is seeking to expand its presence in Saltillo and to set up new business divisions in North Coahuila. The Company envisages investments of US$100 million and the creation of 250 jobs. Alejandro Torres, Business Development executive at Novamex Rio Bravo, commented that this company has been operating in Saltillo for 15 years now, producing tanks and oil drilling equipment and is underway to bring new group divisions into the Mexican state of Coahuila, probably to Piedras Negras, to produce valves and gas handling systems, which will result in the creation of new jobs.

Source: Vanguardia

ThyssenKrupp's new factory in Mexico will soon be built

After the opening of its new Huejotzingo, Puebla factory, the German auto-part maker ThyssenKrupp disclosed through Heinrich Hiesinger, CEO its plans to build new facilities in Mexico. However, a decision has not yet been reached regarding location. Steering shafts will be manufactured in this new plant, according to Enrique Farfán, ThyssenKrupp Mexico´s CEO. Although the company’s executives declined to appoint a date for the announcement of this investment, they have been working out investment plans for Mexico for up to US$36.7 a year by 2020.

Source: Manufactura

Jaguar might come to Mexico

Jaguar Land Rover might be the next automaker to announce investments in Mexico to produce cars. Recently, it was reported that the corporation believes that Mexico would be a good destination to its projected investment of more than US$500 million to build a new factory, due to its workforce and its FTAs.

Source: Milenio

More employment and investment coming to Coahuila

At least 10 new investment projects will be announced for Coahuila next May, which will represent thousands of jobs for the various regions of the State.Jose Antonio Gutierrez Jardon, Minister of Economic Development and Tourism Competitiveness in the State, said that all the projects carried out would generate between 6 thousand and 7 thousand new jobs in Coahuila. Currently, the state has 686,746 formal occupations that will increase over the coming months with the completion of new investment projects.

Source: Zocalo Saltillo

Thailand sees business opportunity in Queretaro

Queretaro has potential for binational investment with Thailand, mainly in the automotive and food industries, said Tanita Sirisup, Director of the Board of Investment of Thailand (BOI) in Los Angeles, California. He stressed that Mexican companies have business opportunities in this Asian country, since Thai firms may engage with these industries in Mexico. He emphasized, in turn, that Mexico is a gateway for Thai firms to Latin American markets, while Thailand provides access to Asian markets, so executives from both countries would be benefitted by the exchange. Tanita Sirisup added that there are some Mexican companies already operating in Thailand in the automotive sector.

Source: El Economista