Despite Trump pressure, companies plow ahead with moves to Mexico

Nucor is moving forward with Japan’s JFE Steel to build a new plant in Mexico to make steel for car makers.
Nucor is moving forward with Japan’s JFE Steel to build a new plant in Mexico to make steel for car makers.

By Andrew Tangel / Wall Street Journal

President Donald Trump boosted the hopes of employees at Rexnord Corp.’s factory in Indianapolis in December when he castigated the company for “viciously firing” workers and planning to move their jobs to Mexico.

Two months later, Rexnord is still planning to close the industrial-bearings factory, which employs about 350 people, despite Trump’s shaming and his earlier intervention to stop a nearby Carrier Corp. furnace factory from closing.

Rexnord says moving the plant to Mexico is part of a plan to save $30 million annually.

Executives at Peoria, Ill.-based Caterpillar are moving ahead with a restructuring that includes shifting jobs from a Joliet, Ill., factory to Monterrey, Mexico.

Charlotte, N.C.-based Nucor is moving forward with Japan’s JFE Steel to build a new plant in Mexico to make steel for car makers.

The continuing investments abroad underscore the scale of the economic forces that confront President Trump’s plans to persuade U.S. firms to stop moving operations — and jobs — to Mexico.

https://www.wsj.com/articles/rexnord-plows-ahead-with-mexico-plans-despite-trumps-pressure-1486555201

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