++mazda++ Mazda confirms plant will be built in Mexico
Tokyo, Japan.- Mazda Motor Corp. confirmed last Friday their plans to build a new Factory in Mexico with a US$500 million investment; with the purpose of growing in emerging markets.
The factory to be built in Mexico, in a joint venture with Sumitomo Corp., will be located at the State of Guanajuato and will start producing in April 2013 mainly to serve South and Central America markets.
The new plant will assemble small compact Mazda2 and compact Mazda3 and will manufacture engines. Maximum capacity will be 140,000 vehicles per year, employing 3,000 people.
Mazda will own 70% of the factory, while Sumitomo’s share will be 30%.
“This project is part of Mazda’s plans to meet medium and long term growth goals in emerging markets”, Takashi Yamanouchi, President and CEO, said.