Dayco invests US$11.5 million to build its second plant in SLP
SAN LUIS POTOSI – Tier 2 automotive supplier Dayco announced that it will build its second plant in the state of San Luis Potosi with an investment of US$11.5 million in the Tres Naciones Park in the capital city of San Luis Potosí.
Dayco will build its new plant for the production of belts for high-tech light vehicles and construction is expected to be completed in 2023 to be operational in early 2024.
"This is a strategic investment that allows us to expand Dayco's presence in North America and, subsequently, the company's global presence", said John Kinnick, president of Dayco's Global Belting Division.
The new belt production facility adds to the aftermarket and new model light vehicle market for North America where it is targeted. In its first phase, it will create 100 new direct jobs.
"The fact that companies established with us decide to invest again means confidence, because it is employment, consumption and social stability," said the head of Sedeco SLP.
With the production of the new plant, Dayco will also increase its influence in Latin America. Dayco's operations have grown in this region in recent years and the outlook is favorable.
"The new belt factory in Mexico will be an option to have products quickly and at a good cost. We reaffirm our commitment to invest in operations in Mexico, the importance of partnering with our local customers and that they can count on Dayco and our entire team to offer the best solutions for their business," said Marcelo Sanchez, director of aftermarket Latam at Dayco.