Bancomext grants US$ 102 million credit facility to aerospace joint venture AT Engine Mexico
Mexico’s National Bank of Foreign Trade (Bancomext) announced that it granted a US$ 102 million credit facility to the aerospace manufacturing plant AT Engine Mexico, which will open more than 300 high-skilled jobs in Sonora, in addition to attracting investments for the chain of supply of the sector.
Through a statement, the state-owned bank and export credit agency said the loan is part of an investment of US$ 297 million made by AT Engine Mexico, a joint venture between Grupo Punto Alto de Mexico and Aerotech Peissenberg of Germany.
The plant will perform machining of high precision components for LEAP turbines, as well as for the renovation of current engines.
Back in October 2017, both companies announced plans to build the manufacturing facility with an investment originally estimated in US$ 200 million.
Grupo Punto Alto is a Chihuahua-based company founded in 1959 with investments in several sectors such as construction, real estate, aerospace, metal-mechanics and services.