Bulletin 390 - Friday, October 10, 2008
Techint willing to put its money on Mexico
Thechint, through its subsidiary companies Tenaris and Ternium, announced an investment of around US$6.6 billion in the next five years, reaffirming its commitment to grow in Mexico, in spite of the international economic environment.
Upon disclosing their investment plan for 2008-2013 Techint's President, Paolo Rocca informed the capital injection will include three specific projects.
The first one will be the expansion of the seamless steel pipes manufacturing plant that Tenaris Tamsa has in the State of Veracruz, installing a new laminator and the expansion of the steel mill they have there, where a US$1.6 billion investment will be made.
The second project consists in the construction, by Ternium, of a last generation plant of flat steel in the State of Nuevo Leon, to which purpose the Group will invest US$2.5 billion in the first stage and US$1.5 billion in the second stage.
Finally, Mr. Rocca announced the development of Termium's iron ore reserves in the states of Michoacan, Jalisco and Colima, to which purpose US$1 billion will be invested within the next five years.
Aircraft parts factory to be transferred to Mexico
The French aircraft parts manufacturer, Labinal Inc announced today they will close their plant in Pryor, Oklahoma to transfer to Mexico part of their aircraft harnesses production.
The Company, which employs 485 people in their Pryor facilities, pointed out in a press release that all these jobs will be transferred to plants Labinal has in the State of Chihuahua in Mexico and in Corinth, Texas, where their offices for North America are located.
The Company did not specify, however, how many jobs will be transferred to Chihuahua, where Labinal currently has two plants, one to manufacture and assemble harnesses for Airbus and Bombardier airplanes and the other one for Boeing airplanes.
Labinal's executives informed last Monday to their workers in Pryor that they have their employment assured for the next 60 days, when personnel cut down will start.
Source: El Financiero
ArvinMeritor expands its presence in Mexico
The leading supplier in the world of a wide range of integrated systems, modules and components. for the automotive industry built a new plant to manufacture components for commercial vehicles at the State of Nuevo Leon. The investment amounted to US$30 million, a figure to be doubled within the next few months to increase production capacity.
In their facilities - 37,000 m2 (around 398 thousand square feet) - axes, brakes and components will be assembled and manufactured to be exported to Canada and the United States. Initially, the plant will produce conic gears and non-traction frontal axes for trucks assemblers in those two countries.
These facilities were inaugurated after nine months of construction, and its capacity is expected to be gradually increased, to have it working at 100% by 2008 with a 500 employees labor force; to date, 150 people have been hired.
Caterpillar inaugurates new maquiladora
With a US$30 million investment, Governor Eugenio Hernandez Flores declared officially inaugurated the fourth Caterpillar Reman Services plant for the re-manufacture of gears and alternators for heavy machinery. It is a 40 thousand 500 square meters (436,000 square feet) industrial building, located in Nuevo Laredo, Tamaulipas, which will directly employ 650 workers.
Caterpillar's factory stared in 1988 with a small plant with 70 jobs only to rebuild super heavy machinery injectors, and they are opening today their fourth plant in the Nuevo Laredo, fifth at the State (the other one is in Rio Bravo) for a total labor population of over one thousand 500 jobs.
Caterpillar vice-presidents attended the event, in addition to City Mayor Ramon Garza Barrios.
Source: El Mañana
Italian iron and steel company will build a plant in Tamaulipas
With an investment over US$50 million an iron and steel Italian company will be installed in Rio Bravo Municipality, municipal authorities informed.
Roberto Benet Ramos, Rio Bravo City Mayor, said that an Italian company in the iron and steel industry will be installed at the City early in 2009, after the company's representatives made several visits to get familiar with the zone's infrastructure and labor conditions.
He said that the company's representatives made several studies and finally decided to establish here after hearing about growth projects for this border city, including Rio Bravo-Donna international border crossing.
Goodrich Plant inaugurated in Mexicali
The US Company Goodrich Corporation inaugurated yesterday their new aeronautics manufacturing plant in Mexicali, where US$92.5 million were invested and which by year 2010 will have generated 250 direct jobs.
Greg Peters, President of Goodrich Aerostructures and Baja California Governor, Jose Guadalupe Osuna, inaugurated the 150 thousand square feet plant, where parts for airplane turbines will be manufactured. Goodrich announced assembly processes will be new in Mexico.
"State authorities gave us facilities to establish here... in our experience working here, in Mexico, has been very positive, workers are very enthusiastic and have met the Company's work standards", Peters said in an interview.
MEXICO'S WEEKLY HEADLINES
- -- We are in the middle of the storm: Toyota
- -- Ford rules out industrial actions and dismissals for global crisis
- -- Aerospace industry in Mexico grows; already 186 companies
- -- Exports decrease causes losses to 50 auto parts companies
- -- Carlyle Group, investment for Mexico shortly