ITP Aero invests US$27.7 million in Querétaro

QUERETARO - ITP Aero, an aerospace company of Spanish origin, invested US$27.7 million to expand its facilities in Queretaro, through a new ship for the production of castings and a logistics center.

This project will create 250 jobs over the next three years, according to company information.

This facility is in addition to the company's plans to increase its workforce in Mexico by 20% in the last year, with an expected increase to more than 1,000 employees.

The company plans to invest in the coming years to expand and improve its technological capabilities; in addition, according to the company, over the last three years it has focused its efforts on launching new product lines.

During the inauguration of the new facilities, ITP Aero CEO Eva Azoulay highlighted the company's participation in the industry, now with the development of new technological capabilities such as the manufacture of castings.

“We were pioneers in making Queretaro a world-class aeronautical hub, our growth and investments here demonstrate our commitment to the Mexican aeronautical sector, developing new technological capabilities, such as the manufacture of castings and positioning ITP Aero and Queretaro at the forefront of aeronautical technology,” she said.

ITP Aero was installed in the state in 1998, establishing itself as the first aeronautical company in Querétaro; since that date, the firm has registered a sustained growth in its operations, providing from engine maintenance services to the development of design and manufacturing capabilities for aeronautical engine components.