Reuters – Mexican industrial output unexpectedly stagnated in March compared with February, dampening growth hopes and putting pressure on the government’s forecast for a third year running.
Sentido Comun – Bancomext will soon launch a program to finance the needs of the aerospace industry located in Mexico to almost double the current amount of exports and generate 67,000 jobs over the next five years.
Sentido Comun – Ball Corp. said it plans to build a new factory with two production lines of aluminum cans in Monterrey to meet the growing demand for this type of packaging.
El Siglo de Torreon – Manufacturers of Mexican autoparts will take up to three years to become suppliers of the new plant KIA in Pesquería, Nuevo León, said Oscar Albin, president of the Industria Nacional de Autopartes.
Forbes – Mexico’s economy has performed well relative to other major Latin American economies in recent years, largely because of its thriving manufacturing sector. Unlike Brazil and Argentina, whose manufacturing sectors are slumping, Mexico has continued to see solid growth because of its integration with and dependence on the U.S. market.
Reuters – General Motors Co will build its next-generation Chevrolet Cruze small car in Mexico. GM will invest $350 million to produce the Cruze at its plant in Coahuila, as part of the $5 billion investment in its Mexican plants announced last year.
WSJ – Caterpillar Inc. plans to eliminate 230 jobs at a plant in Joliet, Ill., where workers went on strike in 2012 for more than three months, and move production of oil pumps and valves to one of its plants in Monterrey.
By Dudley Althaus and William Boston / Wall Street Journal
A barren patch in the rugged hills along the Tennessee River is a sign of how Mexico has accelerated past the U.S. South in the global competition for auto investment.
The tract of cleared woodland lies alongside a factory Volkswagen set out to build in 2008. But four years later, when Audi decided to move global production of its Q5 SUV to North America, the prize went to Mexico.
“Mexico had more than 40 different free-trade agreements,” said Rupert Stadler, Audi’s chief executive. The pacts give exporters from Mexico duty-free access to markets that contain 60% of the world’s economic output.
While the bulk of Mexico’s auto exports go to the U.S. and Canada, its partners in the North American Free Trade Agreement, auto makers increasingly are turning to Mexico as a platform for selling world-wide.
Sentido Comun – Audi has trained more than 600 Mexican employees in the company’s German plants in various key roles in the new plant that the company will build in San Jose Chiapa, Puebla.
Sentido Comun – Heineken said it will invest 7,350 million pesos ($475 million) in the country to build its seventh brewery. it will be in the town of Meoqui in Chihuahua and have a production capacity of five million hectoliters a year, with the possibility to produce up to 10 million.
Sentido Comun – Grupo Vasconia, a producer of aluminum and steel items for the home, said it will invest $35 million during 2015, 2016 and 2017, as part of its strategy to foray into the automotive and construction segments.
Sentido Comun – General Motors (GM) this year will invest $87 million to expand its stamping plant located within its manufacturing complex in San Luis Potosi. The expansion will increase capacity in the production of the Aveo and Trax models.
Sentido Comun – Acciona Energy, a major Spanish companies producing sustainable energy, opened a plant for the production of concrete wind towers in General Escobedo, a town near Monterrey, where it has built wind farms Ventika and Ventika II.
Sentido Comun – Grupo Herdez has opened a new $21.3 million plant in Los Mochis, Sinaloa, with a capacity to process 75,000 tons of vegetables, expanding operations by 30 percent.
Zacks – Magna International Inc. has opened a new greenfield facility, Autotek Morelos, in Emiliano Zapata, Morelos. The facility will be used for the assembly of automotive chassis products.
Sentido Comun – Grupo Industrial Saltillo has established an alliance with Fagor Ederlan, to build a new plant that will produce iron automotive components. The location of the $52 million factory has not been disclosed.
By Yemeli Ortega / AFP
Mexican authorities have rescued 129 workers, including six children, who said they were exploited and physically and sexually abused at a garment factory run by South Koreans.
Four South Korean nationals have been handed over to prosecutors in the western state of Jalisco after workers identified them as the owners or managers of the company named Yes International, the National Migration Institute (INM) said.
Authorities raided the company in the town of Zapopan on Wednesday after receiving an anonymous tip, INM coordinator Ardelio Vargas Fosado told reporters, describing the South Koreans as a “gang of suspected human traffickers.”
Reuters) – Mexican industrial production rose in November at its slowest pace in two months, as a dip in mining and utilities dragged on an expansion in the construction and manufacturing sectors.
Plastics News – Driven by surging Mexican factories, North American light-vehicle production for 2014 is headed for the second-highest level on record by the time the final numbers are counted.
Detroit News – General Motors Co. said Thursday it will invest $5 billion in Mexico over six years, dating from 2013 through 2018, and will add 5,600 new jobs in the region.