Bulletin 447 - Friday, November 20, 2009

Dallas, USA,- The automotive company based in South Korea, Hyundai Motor Co. is considering building an assembly plant in Mexico to supply the North America market, specialized media informed today. Hyundai has reduced its options to build the plant, to maybe decide for the State of Veracruz, in the east coast, according to Edmunds.com and Autoblog.com, two websites specialized in the automotive industry. Edmunds.com says that officers from ProMexico - the government agency responsible to promote exports and attract foreign investment - have informed that they are negotiating with Hyundai. The new plant would be Hyundai's third in North America; there is one in Montgomery, Alabama and another recently built in West Point, Georgia.

Source: Zocalo

Tijuana, Baja California,- A government officers and businessmen group, headed by Baja California Governor, Jose Guadalupe Osuna Millan, formalized a commitment with a Chinese automotive company to establish in this border state. During a business trip to China that started early this week, businessmen and government officers got in touch with ZX Auto, and entered a commitment letter for a Mexican-Chinese joint-venture. In a press release the State Government informed that this project will generate more than one thousand 400 jobs in the medium term. The company has branches in the Middle East, Asia, Europe and several Latin America countries, and its presence in Baja California will strengthen the automotive cluster, Governor Osuna Millan informed from China. Governor Osuna explained that the company that will be installed at the State will have production capacity of 200 thousand vehicles per year, and one of the purposes of establishing the plant here is selling them in the border market.

Source: El Universal

Chihuahua, Chihuahua,- With capacity to produce 200 thousand diesel engines per year to be exported to the United States and Great Britain, Ford Motor Company inaugurated yesterday in Chihuahua the first industrial building adapted for this type of machines in all of Latin America. The new factory represents the creation of one thousand 100 direct jobs, with a US$838 investment, thanks to attractive labor, costs reduction and being close to its main market, the United States. Ford's investment in Chihuahua equals almost one third of the State of Chihuahua budget for 2009, which was MEP$33 billion. The US$838 million invested by Ford are part of a project to invest US$3 billion which this US Company committed to make in Mexico within three years.

Source: El Diario

Monterrey, Nuevo Leon,- Goldcorp, the Canadian mining company, agreed to buy the junior gold mining company, Canplats Resources Corp for CAN$238 million, to expand their assets basis around Golcorp's Peñasquito Project in Zacatecas. Goldcorp is planning to purchase all of Canplats outstanding shares and then derive of all its assets outside their Camino Rojo project into a new gold exploration company. Late last December, Canplats informed they found proved reserves for more than 3 million 210 ounces of gold and 60 million 700 thousand ounces of silver in Mazapil, Zacatecas. The new company will keep interests in certain estates in an early exploration stage in the states of Durango and Coahuila.

Source: Milenio

Mexico,- Nestlé has plans to invest US$100 million in the expansion of their coffee processing factory located in Toluca, State of Mexico. Juan Carlos Marroquin Cuesta, Nestle's CEO in Mexico said that with the forecasted investment this will be the coffee plant with the largest capacity in the world. Works could be completed by the first quarter of 2011. Mr. Marroquin further pointed-out that Nestle Mexico will reinforce schemes to purchase coffee from domestic suppliers. He also said that Nestle's investment in Mexico next year will amount to US$175 million.

Source: El Semanario

Chihuahua, Chihuahua,- Electrolux and Foxconn will start the construction of two plants in Ciudad Juarez in January 2010, generating around five thousand jobs at the beginning and 80 thousand in the next decade. An important factor for the decision by the Swedish company Electrolux to expand their operations in Ciudad Juarez was that Ferromex pledged to give service through a spur, to be finished by the State Government, which will allow cutting down costs. Electrolux already operates two manufacturing plants here, producing refrigerators, washing machines and dryers. The first plant started operating in June 2005, where one thousand 438 employees work in two shifts. US$140 million were invested to open it. The second one started in 2008 with a US$130 million investment and employs 673 people. As far as Foxconn is concerned, the decision is due to the lobbying made by the municipal government, City Mayor Reyez Ferriz assured. This Taiwan-based company is already operating in Juarez Industrial Park in Jeronimo zone, with four industrial buildings where they invested US$185 million and are expecting to generate up to 20 thousand jobs.

Source: Énfasis Logística

Mexico,- With an investment over US$200 million Nissan will produce in Mexico what will be the smallest car in their products portfolio to be sold in the domestic market. The small automobile will be produced in Nissan Aguascalientes plant in 2011, Jose Muñoz, President and CEO for Nissan Mexicana, informed. Nissan is planning to produce 50,000 units, equal to 10% of the production capacity by the company's plants in Aguascalientes, Cuernavaca and Morelos. "The company is putting good money in Mexico so that vehicles may be developed and produced here", Mr. Muñoz added.

Source: COCEI