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Recent and upcoming investment in Mexico

  • Logistics: Mexican upscale department store chain and mall operator Liverpool inaugurated a major new distribution center in the central State of Mexico.  The first stage of the planned US$1.2 billion Plataforma Logística Arco Norte (PLAN) is expected to double the company’s existing capacity for receiving, warehousing and shipping products throughout the country. (Reforma, October 27, 2022)
  • Food processing: U.S. food processor Del Monte Foods announced a major expansion of its plant in the northeastern state of Nuevo León.  The US$30 million upgrade is planned to boost processing capacity of fruit and juices for export to the United States, China, Japan and South Korea. (Reforma, October 24, 2022)
  • Automotive: German automotive components manufacturer Standard Profil inaugurated a new production plant in the central state of Guanajuato.  The US$9.8 million facility is expected to produce sealing systems for electric vehicles of automotive OEMs such as Ford, Tesla, Rivian, Audi and Volvo. (Cluster Industrial, October 20, 2022)
  • Manufacturing: Chinese HVAC manufacturer Sanhua inaugurated a new production plant in the northern state of Coahuila, the state government reported.  The US$35 million site is planned to produce components for refrigeration and air conditioning systems. (Milenio, October 19, 2022)
  • Refrigeration: Danish heating and cooling equipment maker Danfoss inaugurated a new manufacturing plant in the northeastern state of Nuevo León, the company reported.  Investment was not specified for the new facility, which is expected to produce components for heat exchangers used in industrial refrigeration. (Milenio, October 19, 2022)
  • Automotive: German auto maker Volkswagen is projecting investment of approximately US$763 million through 2025 to modernize its manufacturing plant in the southern state of Puebla.  Plans include a new all-electric painting unit powered by wind-generated electricity. (Reforma, October 28, 2022)
  • Commercial real estate: Mexican commercial real estate developer Grupo Murano inaugurated a new hotel and retail complex in central Mexico City.  The US$150 million site is part of an investment program that includes hotels planned for the coastal cities of Cancun and Ensenada under the AM Resorts brand. (Reforma, October 25, 2022)
  • Railroads: Mexican rail freight operator Ferromex, subsidiary of Grupo Mexico Transportes, plans investment of approximately US$470 million in 2023, the company reported.  Resources are expected to support acquisition of new railroad equipment, expansion of operations and technology upgrades. (Reforma, October 27, 2022)
  • Manufacturing: U.S.-based bedding products multinational Tempur Sealy reported plans to expand its mattress manufacturing plant in the central State of Mexico.  The US$3.5 million upgrade includes the addition of loading docks and expansion of production facilities. (Forbes, October 19, 2022)
  • Automotive: Portuguese automotive components multinational Sodecia announced it will expand operations at its manufacturing plant in the northern state of Coahuila.  A US$36 million upgrade is expected to add automation technology including hot stamping to increase the range of auto body parts produced at the site. (Mexico Industry, October 13, 2022)
  • Logistics: U.S. e-commerce giant Amazon inaugurated a new shipping center in the northeastern state of Nuevo León, the state government reported.  The 225,000 sq. ft. facility is part of the company’s current US$75 million investment program in the state. (Government of Nuevo León, October 13, 2022)
  • Chemicals: Swiss chemical ingredients maker Givaudan inaugurated an expansion of its Flavors and Wellness production plant in the central state of Morelos. The US$7.7 million upgrade includes new quality control laboratories and administrative facilities. (Mexico Industry, October 12, 2022)
  • Electronics: U.S. semiconductor manufacturer Vishay Intertechnology inaugurated a new production plant in the northern border city of Ciudad Juárez, the Chihuahua state government reported.  The US$23 million facility is expected to produce resistors for industrial and consumer products. (Solili, October 12, 2022)
  • Retail: U.S.-based DIY and hardware retailer The Home Depot inaugurated a new retail location in the northeastern industrial city of Monterrey via investment of approximately US$30 million, the company reported.  The Home Depot’s investment plans also include a US$50 million multi-channel distribution center in Nuevo León, a new logistics hub and additional stores. (América Retail, October 11, 2022)
  • Manufacturing: Chinese machinery manufacturer BUT Construction Machinery established a new production plant in the northeastern state of Nuevo León, the state government reported.  The US$20 million site is planned to produce excavator parts and hydraulic clamps. (Somos Industria, October 2022)
  • Casual dining: Canadian coffee and fast-food chain Tim Hortons announced planned investment of US$30 million to open 50 locations in the central state of Querétaro.  The company also reported plans to establish points of sale in Walmart and Sam’s Club stores in Mexico. (Mexico Industry, October 10, 2022)
  • Automotive: Korean automotive electronics maker HL Klemove reported plans to establish a new manufacturing plant in the northern state of Coahuila.  The US$65 million facility is expected to produce electric vehicle components such as cameras, radar and domain controllers (DCU) for OEMs such as Hyundai and Kia. (Somos Industria, October 2022)
  • Metal finishing: Turkish metal finishing technology manufacturer BOCE Industrial Systems inaugurated an industrial plant in the central state of Querétaro at an estimated cost of US$1.5 million.  The site is expected to produce automatic surface treatment and electro-plating lines for anti-corrosion, decorative or functional applications. (Radio Fórmula, October 2, 2022)

Recent and upcoming investment in Mexico

  • Logistics: Mexican 3PL services provider Solistica, subsidiary of diversified corporate group FEMSA, inaugurated a new distribution center in the northeastern state of Nuevo León, the company reported. The site is part of US$50 million in investment planned for the current year, in areas including expansion of infrastructure, transport, distribution centers, warehousing and systems technology. (Reforma, March 29, 2022)
  • Manufacturing: U.S. home appliance manufacturer Whirlpool announced investment of US$30 million across various manufacturing sites in Mexico to increase production capacity. The company produces products such as refrigerators, ovens and washing machines at five plants in the country. (Reforma, March 28, 2022)
  • E-commerce: Mexican furniture retailer Muebles Dico launched an on-line marketplace called TodoMuebles to sell the company’s own products in addition to those of other small businesses. The new e-commerce site offers furniture as well as products for home decor, kitchen, lighting, office, children, and accessories. (Reforma, March 25, 2022)
  • Airports: Mexican airport operator Grupo Aeroportuario Centro Norte (OMA) reported it will invest an unspecified amount to convert its airport in the northeastern industrial city of Monterrey into a hub for international flights. Plans include construction of a new air traffic control center and control tower. (Reforma, March 21, 2022)
  • Steel: Mexican steel products maker Deacero announced plans to construct a new manufacturing plant in the northern state of Coahuila. The US$21 million site is expected to produce raw and galvanized steel beams for the electricity, telecommunications, oil and gas industries. (El Financiero, March 17, 2022)

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Recent and upcoming investment in Mexico

COVID-19

The accelerated contagion of COVID-19 continued to worsen during August, with seven states now classified as red (highest alert) on the national epidemiological traffic light system and 17 states at orange, the second highest level of alert.  The country is currently reporting approximately 6,000 new cases per day nationwide, however this is down from over 20,000 per day earlier in the month.  Health Ministry authorities have reported that at least 17 states are beginning to register declines in the number of new cases, raising hopes that the third wave is beginning to ease.

ECONOMY AND INDUSTRY

  • Through the first six months of 2021, remittances to Mexico from abroad became the country’s single largest source of foreign currency, according to data from central bank Banco de México (Banxico). The US$23.6 billion in remittances during the period exceeded the value of other key income categories such as Foreign Direct Investment (FDI), petroleum exports and tourism. (La Jornada, August 18, 2021)
  • The Mexican Social Security Institute (IMSS) reported the number of formal jobs registered nationwide in the system reached a historic high in July. The number of part-time jobs declined, indicating that the recent reform to reduce the outsourcing of employment is driving companies to bring formerly independent workers on staff. (Reforma, August 13, 2021)
  • Income from international tourism in Mexico in June exceeded that of June 2019 by 4%, demonstrating significant recovery of Mexico’s tourism industry despite the ongoing pandemic, according to data from the National Statistics Institute (INEGI). The number of international tourists arriving in the country jumped 211% from June 2020, due to business shutdowns last year. (Citibanamex Reporte Económico Diario, August 11, 2021)

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