We were surprised to see announcements early this month that U.S. Secretary of Agriculture Sonny Perdue would be arriving imminently in Mexico at the head of a major agricultural trade mission. Surprised, for one, because we hadn’t heard a peep about such a large-scale, high profile mission, which was announced only the day before the group arrived in Mexico City. And two, because the U.S.-Mexico trade relationship – particularly in agriculture — has been nothing if not fraught with conflict during the Trump administration. Continue reading U.S. sends ag trade mission to Mexico
- Agribusiness: Mexican agricultural services provider Phytosan inaugurated a new phytosanitary radiation plant in the northeastern state of San Luis Potosi following investment of US$12 million. The facility, the only one of its kind in Mexico, will be used to treat fruits and vegetables for export to the United States.
- Automotive: Japanese automaker Honda plans to invest US$800 million to build a new manufacturing plant in the central state of Guanajuato. The new factory, planned to begin production by 2014, will produce energy-efficient subcompact autos. Honda currently operates an automobile factory in the western state of Jalisco.
- Hospitality: U.S.-based hotelier La Quinta Inns & Suites announced plans to invest US$60 million to expand operations in Mexico over the next three years. Projects are expected to include new hotels in business hubs such as Mexico City, Ciudad Juarez, Reynosa and San Luís Potosí, among other locations.
- Automotive: Japanese automaker Honda will reactive investment plans at its manufacturing plant in the western state of Jalisco. US$60 million in resources are earmarked to install equipment and technology needed to produce the company’s next model CR-V recreational vehicle.
- Automotive: U.S. auto parts maker TRW Automotive announced it will invest US$50 million to install a new manufacturing plant in the central Mexican state of Queretaro. The new facility reportedly will produce anti-lock braking systems to supply Volkswagen Brazil.
- Mining: Mexican corporate group GFM has formed a joint venture between its heavy equipment subsidiary GFM Maquinaria and Singapore-based Singapore Technologies Kinetics to market mining equipment under the brand TRXBUILD. The association plans to build a factory to produce equipment such as backhoes, tractors and off-road trucks in Mexico within five years through projected investment of US$20 million. Continue reading Recent and upcoming investment