Bulletin 378 - Friday, July 18, 2008

Monterrey, Mexico,- The India-based software company MindTree is planning to open a development center in Monterrey by the end of this year, that will employ around 250 people. In a press release, MindTree informed that the new development center will help strengthen their operations at the USA and Latin America. It further points-out that the new center will be inaugurated next November 1st and there are plans to employ more personnel as their operations and customers' demand grow. "As part of this initiative, we feel Mexico is a strategic location that will give more options to our many customers in North America to meet their requirements", Staples pointed-out. He said that by being so close to the United States, MindTree's facilities in Mexico will offer its customers the benefits of proximity, cultural similarity, strong physical infrastructure and Government support. Source: El Mural

Source: El Mural

Mexico City - The construction of a storage and regassification terminal was started. yesterday in Manzanillo, Colima by the consortium Terminal KMS de GNL, formed by the companies Mitsui, KOGAS and Samsung, with a US$700 million investment. According to a press release by the state-owned power generating company, Comisión Federal de Electricidad (CFE), said terminal will be installed at Laguna de Cuyutlán and will allow for the handling of up to 500 million cubic feet of natural liquefied gas every day, starting in 2011 and for 20 years. Gas supply will be made from Peru, in the amount of 500 million cubic feet daily, at an agreed price that will translate into savings for US$230 million per year. This construction is part of the National Infrastructure Plan and is a key piece to guarantee electric service at the area, because it assures natural gas supply for current and projected power stations at the area. As far as sea-ports is concerned, the start of these works opens the possibility to build a new commercial port in Manzanillo, as had been forecasted in order to increase the capacity of the largest premises at the Pacific Coast. Source: T21

Source: T21

Alcoa Electrical and Electronics Solutions, a subsidiary of the US aluminum manufacturer, Alcoa. announced they will lay off 500 workers in Mexico at four factories, three of them in Coahuila and one in Chihuahua. With the announcement, the Company, also known as AEES, will have the fifth massive layoff in Mexico since 2003, when they had to cutoff close to 4 thousand 250 jobs. "Conditions of the automotive market in North America are well known. The market faces difficulties. This action is the result of a significant decrease in purchase volumes by our customers of several vehicles platforms and in no way reflects our labor force", said Jon A. Jensen, AEES' President for Light Vehicles Market and Operations in the Americas. In addition to the layoffs in Mexico, AEES said they will also eliminate some 740 jobs in Honduras, due to the closing of their power distribution plant there, and to a cut-down in operations in a cables manufacturing plant. Source: Vanguardia

Source: Vanguardia

San Luis Potosi, SLP,- In the last five years 59 companies have. established at the State with foreign direct investment. According to the study called San Luis Potosi Economic Outlook, made by the Ministry of Economic Development, in 2003, at the beginning of Marcelo de los Santos' Administration, there were 152 companies with foreign direct investment, while last March there were 213 such companies registered. Among the most important, based on the investment they represent, there are the recently inaugurated Bombas Grundfos and Faurecia, as well as ABB Mexico, Cummins, Draexelmaier, Mabe Sanyo, Roberto Bosch, Valeco, Teka Mexicana and General Motors' assembly plant. Per the amount of imports, among the main products shipped abroad last year there are machines, devices and material; nuclear reactors and furnaces; plastic materials and manufactures; iron and steel castings, as well as automobiles and tractors. Source: Noti-Ina

Source: Noti-Ina

Mexico City,- Kellogg Company de Mexico started the construction of a new plant in Mexicali, Baja California, where US$100 million will be invested and will generate 300 direct jobs. According to the Company, the construction will have 23 thousand square meters (247,500 square feet) and will be the fourth plant Kellog has in Mexico. The other plants Kellog Company has in Mexico are located in Queretaro, Toluca and Linares, Nuevo Leon. Kellog reported US$12 billion in sales in 2007. Juan Pablo Villalobos, Kellog Mexico and Latin America President said that in Mexico, and in this specific case in Mexicali, they have found proper infrastructure, human and logistics resources and government support to establish their producing plants. Mario Juarez, Head of ProMexico's Institutional Relations Unit, said that the Mexican Government has set to work a program to transform the economy, through public policies that have created stable macro-economic variables and juridical safety to investors and trade partners. Source: El Norte

Source: El Norte

This month the five plants Chrysler has in Mexico will stop operating for two weeks, starting on. the 14th and on the 21st respectively. The strategy is in line with the announcement made a few weeks ago by Chrysler LLC, saying they would have technical stoppages to face the situation being faced by the automotive sector, mainly in the USA. All Chrysler plants in the world will stop: from vehicles assemblers to manufacturers of engine components. According to Chrysler executives in Mexico, these technical stoppages will be used to make changes for coming models, maintenance and change of tools, as well as adjustment in production volumes. No information was provided on how this measure will affect workers, even though they ruled out cutting down personnel. Neither was information given on the number of vehicles that will not be produced these two weeks. Chrysler's operations in Mexico employ more than 6,000 employees directly.

Source: El informador

Chihuahua- Norman Group's CEO, Ken Lackey, announced the installation of a new plant in the. aerospace sector at the City of Chihuahua, with an investment of US$10 million and the generation of 200 direct jobs, Alejandro Cano, Minister of Industrial Development, announced yesterday. The Company has informed this decision to Governor Jose Reyes Baeza and to several suppliers during Farnborough AirShow being held in England from July 14 to 20. The announcement awakened the interest of several companies in the aeronautics field to get familiar with Chihuahua's offer to attract new prospects, such as Norman Group, so several investors held discussions with the Governor. In his announcement, Ken Lackey pointed-out that Chihuahua represents a big opportunity because it is an important products center for aerospace sector and "they want to jump into the dynamics the State" and avoid being left out, to be more competitive. He said that Norman Group invested US$10 million in machinery and equipment for the production of composite materials. Alejandro Cano said that when the United States and other world powers face trouble an important area of opportunity opens to attract investments, because companies start looking for places that allow them being more competitive, and Chihuahua offers this, due to its qualified labor, infrastructure and strategic location. Source: El Diario de Cd. Juarez

Source: El Diario de Cd. Juarez

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• » Guanajuato's company will invest more than MX$100 million in Torreon