Japan Seiko will spend $70million to establish a subsidiary in Mexico
according to AP news agency, Japan Seiko Corporation recently announced that it will set up a manufacturing subsidiary in Mexico
in order to adapt to the continuous growth of automobile production in Mexico and meet the increasing automobile sales in the North American Free Trade Area markets such as the United States, Canada and Mexico, Seiko decided to establish a manufacturing subsidiary in Mexico
the new company is located in Guanajuato, Mexico, and its name is Seiko bearing manufacturing Mexico (C.V.). After it is put into operation, it will focus on the manufacturing and sales of automotive bearings. Stevenbeckman, senior vice president of Seiko, will be responsible for the business of the Mexican subsidiary for the current situation
in addition, Seiko will spend $70million to build a new factory, It will cover an area of 100000 square meters "We rely on word-of-mouth. The construction area of the first phase of the project is close to 13000 square meters, and the plant is expected to start production in the spring of 2014.
the establishment of a subsidiary in Mexico will help Seiko Japan supply automotive bearing products to local customers in a more timely manner, increase production capacity in the core browsing areas of North America, and expand the automotive parts industry and the needs of a variety of control modes in North America. In addition, Seiko Japan also hopes to Solve the problem of exchange rate fluctuations by expanding production capacity in North America
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