ZF carries out expansion and invests US$62 million in Queretaro
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QUERETARO – Francisco Domínguez Servién, governor of Querétaro reported, on March 18, 2021, that the ZF company will invest US$62 million for its expansion in the state, thus strengthening its activities and presence, generating 500 new jobs for the inhabitants of Queretaro.
"This investment in Querétaro strengthens ties with Germany, we are united by a long friendship, a historical cultural bond, as well as strong ties of economic cooperation," said the governor regarding the German company in the automotive industry.
On the other hand, he commented that from October 2015 to February 2021, 20 investment projects of German origin have been completed in Querétaro that represent more than US$430 million and the creation of 6, 747 jobs.
The expansion of ZF will start next month and consists of a new industrial warehouse for manufacturing and assembly processes. Cecilia Bustamante Mier, the head of the office of the State Sustainable Development Secretariat (Sedesu), indicated that so far in the administration, 74 projects in the automotive sector have been completed in Querétaro, with an amount of US$1 billion and the generation of 18,876 new jobs.
She also specified that in the state there are 176 companies with capital of German origin that are dedicated to the wholesale trade sector, in machinery and the manufacture of parts for vehicles and equipment for the manufacturing industry.
"Querétaro again realizes that confidence in investment can be generated in an industry as important as the automotive industry," said the governor of Querétaro.
Source: Cluster Industrial