Tag Archives: aerospace

Mexican economy not 100% dead just yet

Mexico continues to struggle to contain the spread of COVID-19, with over 400,000 accumulated cases and 46,000 deaths.  Mexico City remains at orange, the second highest level of alert under the national traffic light system for establishing economic and mobility restrictions, and the rest of the country’s 32 states are at either red, the highest alert level, or orange.  The level of business activity remains substantially reduced with respect to pre-COVID levels and no significant improvement is foreseeable in the near term. Continue reading Mexican economy not 100% dead just yet

Recent and upcoming investment in Mexico

Information collected from media reports over the last month:

  • Petroleum: Netherlands-based oil company Royal Dutch Shell is projecting investment of approximately US$800 million in Mexico oil exploration operations, the company reported. Separately, Spanish oil company Repsol reported plans to invest US$330 million in deep-water exploration off Mexico’s Gulf coast. (Reforma, June 17 and 19, 2019)
  • Banks: Spanish bank BBVA plans investment of approximately US$3.3 billion through 2024 in Mexico banking operations, the company reported. Resources will support replacement of automatic teller machines (ATMs), renovation of branches and efforts to extend services to unbanked or underbanked sectors. (El Sol de México, June 11, 2019)
  • Optical equipment: German precision device manufacturer Carl Zeiss announced a US$41 million expansion of its plant in the northwestern border city of Tijuana. The upgrade will add two production lines in support of the company’s PhotoFusion vision products operations. (Siglo21 Periódico Industrial, June 18, 2019)
  • Coatings: Mexican steel maker Altos Hornos de México (AHMSA) and Korean machinery manufacturer Paco Engineering announced an alliance to establish a coatings plant in the northern state of Coahuila. The US$20 million facility is expected to provide painting of galvanized steel sheeting for construction and appliance manufacturing applications. (Reforma, June 11, 2019)
  • Solar power: Chilean green power developer Atlas Renewable Energy inaugurated its first project in Mexico, the Guajiro solar park in the central state of Hidalgo. The US$100 million site, which is planned to have installed capacity of 129 MW, will supply electricity to Mexico’s Federal Electricity Commission. (Reforma, June 11, 2019) Continue reading Recent and upcoming investment in Mexico

Recent and upcoming investment in Mexico

Information collected from media reports over the last month:

  • Wind power: Spanish renewable energy developer Acciona Energía will initiate construction of a wind power generation plant early next year in the northeastern state of Nuevo León, the company reported. The electricity plant is part of an investment program of close to US$1 billion intended to double the company’s current 1,000 Mw generation capacity in the country. (Reforma, July 30, 2018)
  • Food processing: Mexican industrial baking giant Grupo Bimbo is projecting capital investment of approximately US$800 million for 2018, the company reported. Resources will support expanding production capacity and improving the company’s product distribution network.  (El Financiero, July 30, 2018)
  • Electronics: German semiconductor maker Infineon plans to expand manufacturing capacity at its plant in the northern border city of Tijuana, the company reported. The US$40 million expansion will allow the facility to boost output of electronic components for use in the automotive, medical and other manufacturing industries. (Tecnoempresa, July 24, 2018)
  • Aerospace: U.S. aerospace components manufacturer Esterline Corp. announced it will expand one of its four plants in the northern border city of Tijuana. The US$15 million expansion will boost the company’s capacity to produce aerospace electronics and sensor equipment at the site. (Mexico Now, July 23, 2018)
  • Aviation: Mexican low-cost airline VivaAerobus reported plans to invest approximately US$2.5 billion in new aircraft to modernize its fleet. The program includes acquisition of 25 Airbus A321neo and upgrade of 16 A320neo to A321neo models. (Reforma, July 19, 2018) Continue reading Recent and upcoming investment in Mexico