Auto parts maker Premium Guard Inc. (PGI) recently announced plans for a $27 million plant in San Luis Potosí, Mexico.
Along with the new PGI plant, Metal Technologies Inc. and Gentherm Inc. have announced plans to expand existing facilities in Mexico.
The projects will generate about $60 million in foreign direct investment for the Mexican economy and create 695 new jobs.
PGI’s new plant in San Luis Potosí will manufacture aluminum injection products for Ford, General Motors and Volkswagen. The new plant, which will bring 270 jobs, is expected to be operational by the first quarter of 2021.
San Luis Potosí is located in central Mexico, 450 miles from Laredo, Texas. PGI is a privately held company based in New York, with its main distribution center in Memphis, Tennessee.
Auto parts supplier Gentherm (NASDAQ:THRM) announced a $6.5 million expansion of its factory in the central Mexican city of Celaya, Mexico. The expansion will add 250 jobs.
Northville, Michigan-based Gentherm makes climate-controlled seats and steering wheels, along with medical devices. Its clients include BMW, Ford, General Motors, Honda, KIA, Toyota, Tesla, Hyundai, Mercedes-Benz and Nissan.
Metal Technologies will invest $26 million to expand its San Luis Potosí plant, creating 175 jobs, according to a recent announcement.
Auburn, Indiana-based Metal Technologies makes metal casting and brake components for passenger vehicles and commercial trucks, produced mainly for export to the United States.
Metal Technologies opened its San Luis Potosí plant in 2019 with 280 employees. The expansion of the facility is scheduled to be completed by the end of 2021.
Source: Freight Waves