Bulletin 444 - Friday, October 30, 2009
Asian plants start operations in Coahuila
Monclova, Mexico,- Golden Dragon and Speco, both Asian companies, started operations in Monclova yesterday, aiming to strengthen their presence in the international market.
Coahuila Government granted incentives for around MEP$31 million (US$2.33 million) so that the Chinese company Golden Dragon invested US$100 million here in a plant to manufacture precision copper pipes, which was inaugurated yesterday and will generate 550 jobs. The company started with 300 workers, but the goal is reaching 900 jobs in one year.
Chanjlie Li, CEO, Golden Dragon, said that Moncolova's geographical location played a role in the decision to install this unit here, because their main markets are North America and Europe. Speco, a Korean company, also inaugurated a plant in the region, attracted by geographical advantages and incentives offered by the State Government. Speco invested US$30 million in a plant that will manufacture Aeolian towers, according to Jorge Matanous, General Director in Monclova.
Y.Sun Ceo, Speco's President, explained they chose Monclova - over Mexicali or Guadalajara - due to the support and incentives granted by the State Government.
Source: El Norte
Honeywell will bring production to Juarez
Ciudad Juarez, Chihuahua,- Honeywell Hobbs, a company which manufactures electronic controls, switches and indicators, is planning to close two plants in Illinois to consolidate its production in Ciudad Juarez, its corporate offices informed. Manufacturing plants in Springfield and Spring Valley, Illinois will be closed and production currently made by around 200 workers will be moved to Ciudad Juarez.
"We think consolidating production in Mexico is more efficient; we already have a large plant operating there", said Mark Hamel, spokesman for Honeywell Corporation, holder of Honeywell Hobbs. Honeywell, based in Morris Township, New Jersey, has a factory of their Sensors and Controls Division in Ciudad Juarez, where they employ around one thousand workers. Plans are subject to negotiations with Union representatives, so no date has been set for production transfer, Hamel explained. Workers have already been informed about the decision.
Source: El Diario
Two auto parts plants to be installed by Japanese In Mexico
Mexico City,-Japan's ambassador in Mexico, Masaaki Ono, announced two new auto parts plants will soon start operating in Mexico, with Japanese investment.
Even if he would not mention the names of the companies, or the number of jobs they will generate, he pointed-out that the new plants will start operating in Leon, Guanajuato, y Monterrey, Nuevo Leon.
The Ambassador acknowledged that in the last two years Japanese investments in Mexico were reduced, but the companies to be inaugurated this October are evidence of the interest of Japanese investors in Mexico.
He further said that a significant growth of Japanese investments will soon be seen, adding to existing investments and pointed-out that Japanese companies established in Mexico currently employ 200,000 people directly.
Masaaki Ono made the announcement during the commemoration of the 400th anniversary of the first Mexico-Japan diplomatic encounter, where he spoke about the excellent level of understanding between both countries.
Tuscor Lloyds opens new offices
Mexico City,- As part of Tuscor Lloyds' global expansion, in addition to opening new offices in Manzanillo Mexico, Naples Italy and Valencia Spain, the company recently moved to their new facilities in Quay West, built in Manchester's Salford Quays, keeping their old Trafford Park facilities.
Responding to customers' demands and increasing their labor force, the company keeps on investing in expansion, and therefore decided to move to new facilities built near the new BBC production center in Media City in the United Kingdom.
On this issue, Nick Rodriguez, from Tuscor Lloyds said: "In this company we are always looking for new opportunities throughout the world and relocating our headquarters will allow us to continue developing as global leader in logistics and transportation".
Philips confident on keeping their local commitment
Mexico City,- In spite of the economic crisis in Mexico and the fact that recovery is expected to be slow, Philips is ready to take the risk.
Paulo Simas, President and CEO for Philips Mexicana, considers that the presence of this electronics company is a long term commitment. "We have not come here as opportunistic, with the idea of leaving with the first crisis".
In an interview, Mr. Simas says that the company will overcome the global crisis. "Weather may be rather stormy but our ship will stay afloat", he said.
Mr. Simas considers that people are still buying products such as screens or TV sets, and therefore "there are plenty of opportunities to grow".
Rate of exchange attracts maquila investments
Puerto Vallarta, Mexico,- A weaker rate of exchange of Mexican Peso against US Dollar will trigger investment by maquiladoras in Mexico, affirmed Cesar Hernandez, Head of Foreign Trade Offices in the Ministry of the Economy.
"For many companies that want to export to the United States, such as maquiladora companies, for example, Mexican Peso rate of exchange will be seen as a stable and permanent advantage, and we will see investment flows related to this industry higher than we have seen in the last few years", he assured.
According to Mr. Hernandez, stabilization of rate of exchange of US$1 = MEP$13, reflecting the evolution of prices in the United States and Mexico, provides for balance in such rate of exchange, leading to competitive advantages.
"Mexico has a privileged position as destination for investment and operations site, this position is the result of comparative advantages, such as geographical location, demographic structure, preferred access to foreign markets and qualified labor force available for a rather low cost", Hernandez pointed-out.
Source: El Mañana
Olympus opens distribution center in Mexico
Mexico,- Olympus Imaging announced the start of direct operations in Mexico with the opening of new offices in the metropolitan area, from where administrative, sale, distribution and customer service activities will be managed.
The purpose of starting direct operations in Mexico by this manufacturer of photography and audio equipment is consolidating the brand's presence here through an integral offer of advanced technological solutions for compact digital cameras, both semi-professional and professional, voice recorders, memory cards, lenses and accessories, in addition to providing direct support to all distributors.
"We are very pleased to start direct operations in Mexico, which reaffirms our commitment as brand and presence in the market", Fabian Biellim, General Director, Olympus Imaging de Mexico, said in a conference.
Source: El Financiero
MEXICO'S WEEKLY HEADLINES
- -- Samsung triples it's earnings
- -- Golden Dragon injects 100 mdd
- -- City Express will sustain it's investment in Mexico
- -- Companies stop employment and productivity
- -- VW's Truck and Bus Plant receives certificate of Clean Industry