Rassini’s net income drops 14% in second quarter despite higher sales
Rassini, S.A.B. de C.V., a Mexico-based manufacturer of suspension and brake components, saw its second quarter net income decrease 14% to US$ 18.9 million (360 million Mexican pesos) despite a 6% increase in sales to approximately US$ 249.5 million (4,740 million Mexican pesos), according to its unaudited financial results for the period ended June 30, 2018.
For the first half of 2018, Rassini posted a net income decrease of 7% to nearly US$ 43 million (816 million pesos) on sales of around US$ 499 million (9,488 million pesos), which represents a 1% increase compared to the first half of 2017.
The company currently builds a new facility in the border municipality of Piedras Negras, Coahuila, of which it has not disclosed any details.
According to local media, it’s a building of more than 5,000 square meters built on a 18,000-square-meter green field that will house high-tech processes that will require minimum workforce.