Japanese manufacturer JTEKT Corp puts on hold expansion plans in San Luis Potosi
Japanese power steering manufacturer JTEKT Corporation announced it has put on hold an expansion plan in Mexico due to uncertainty of the NAFTA renegotiation, Reuters reported citing as source the company’s president Tetsuo Agata, who revealed the decision in a press conference at JTEKT Headquarters in Nagoya, Japan.
“Agata said prospective automaker clients were waiting for the outcome of the talks before making new decisions on their Mexico operations,” says the report.
In later 2015, JTEKT inaugurated a US$ 90 million plant in San Luis Potosi for the manufacture of Electric Power Steering (EPS).
The company opened 300 job position in order to start operations with an output capacity of 900,000 units a year.
Further details regarding the amount of investment and job positions to be created along with the expansion plan were not revealed.