Mexican auto supplier Nemak aims Europe for growth

After years supplying U.S. markets, Mexico’s giant automotive supplier Nemak SAB it’s looking for more growth in Europe.

The company’s aluminum engine components are gaining business on the continent as automakers increase their reliance on the lightweight metal in an effort to cut vehicle weight and increase fuel efficiency.

That helped the Alfa SAB unit boost revenue in Europe 15 percent in the second quarter, partially offsetting declines in North America and the rest of the world.

Nemak is bolstering the Europe business by investing in production from Russia to Germany, and shifting some work away from its North American roots.