Cummins to invest in Mexico
Cummins, an engine manufacturer, plans to invest US$18 million for the construction of a logistic center to be located in the San Luis Potosi industrial zone. It is expected that the work will be concluded by June 2016. This center, occupying a 900,000 square-foot area, will help enhance the organization of materials and improve the coordination between the entry and exit of operational resources. It will also improve the response time for parts delivery to its customers while improving the availability of these components. In addition, Cummins plans to invest US$9.5 million for a new technical center and US$13.5 million for a new engine assembly line.
Goodyear lays the foundation stone for its new plant in San Luis Potosi
The Goodyear Tire & Rubber Company laid the foundation stone for its production plant located in San Luis Potosi. Around US$550 million will be invested there and an estimated six million wheels will be produced per year. This plant will have the most advanced technology in addition to facilities that are more ecological incorporating the use natural gas. It will operate with LED lighting and will not generate waste through landfill sites. It is expected that the work will be finished by the end of 2016 and its first production will be distributed by the summer of 2017. The new plant will create 1,000 direct jobs.
Navistar´s suppliers seek to establish their plants in Nuevo Leon
The Ministry of Economic Development (SEDECO) in Nuevo Leon met with Navistar International Corporation´s executives to discuss the topic of re-location of its U.S. plants in Nuevo Leon. The objective will be job generation and reduction of costs for the Company. At least 20 Navistar´s suppliers are interested in re-locating their plants. This effort will generate higher foreign investment totals and create thousands of jobs. As part of the overall strategy, Navistar has new expansion projects and is seeking to reduce costs by relocating its suppliers. The Company produces over 60,000 cars and trucks in Nuevo Leon yearly. Eighty five percent (85%) of them are exported to the U.S. and Canada.
Next Energy Company to invest in Nuevo Leon
Next Energy Company will invest US$100 million by 2016, in order to expand a wind farm located in the Municipality of Santa Catarina, Nuevo Leon. The effort includes integration of their solar panel technology so they can increase their offer of renewable energy. In 2013, Next Energy, along with Comexhidro Viento and Conduit Capital invested US$50 million for the construction of the first wind farm in Nuevo Leon. Currently, the Santa Catarina Wind Farm, located on the Monterrey-Saltillo highway, has eight wind turbines. Each tower is 443 feet high and has an installed capacity of 22 megawatts. With this output enough electricity could be supplied for the next 20 years while generating important savings for municipalities in the region.
Tokai Rika to invest in Monterrey
The global auto parts company Tokai Rika will allocate a US$34 million investment for the establishment of its first plant in Mexico. In a first phase, the project includes the acquisition of 15 hectares in the Interpuerto Monterrey and an industrial building of 25,000 square meters. Tokai Rika has plants in Brazil, China, Indonesia, Thailand, among others; but its headquarters are located in Nagoya, Japan since the beginning. Besides, since 2000 the firm has gained four ISO certifications, including the ISO 26262 in 2013.
New investments arrive to Nuevo Leon
Fernando Turner, Minister of Economic Development in Nuevo Leon, pointed out that two important investment projects arrived to the Entity. One of the projects is the expansion of the LEGO firm, with an investment of US$800 million; the other one is the Hofusan´s investment project, with an investment of between US$300-US$500 million for a new industrial, commercial and housing park. Currently, there is a 130-project portfolio, which would represent an estimated investment per US$3.28 billion and the creation of over 15,500 jobs, informed Minister Turner.
AMI PPM starts operations in San Luis Potosi
AMI PPM of Mexico has started operations at the Millenium Industrial Park in San Luis Potosi. The Company will have 100 direct jobs and the total is expected to reach 300 positions and generate US$500 million within the next five years. This Chinese firm is a Tier 1 supplier for GM in North America; SGM in China; Mercedes Benz in Germany; besides to Volkswagen, Audi, Cummins, Bosch, Chrysler, Fiat, Polaris, and other. AMI PPM was founded in 2005 and has companies in China, Mexico and Germany. Last year the firm started planning the research, development, production and sale of powertrain parts and components for automakers of local independent brands.
Kia Inaugurates new plant in Nuevo Leon
Kia Motors Mexico has inaugurated its new plant. It is located in the Municipality of Pesqueria, Nuevo Leon. The Company announced that the first Forte models will be produced from November 2015 to May 2016, but that normal production will not be ready until late June of 2016. It is expected to reach a minimum of 100,000 units produced during its first year of operation, but the total output will ultimately reach 300,000 units. Sixty percent of the production in Pesqueria will be exported to the U.S., 20% will stay in Mexico and the remaining 20% will go to Central and South America. To produce the 300,000 units Kia will be hiring up to 4,000 Mexican employees.