MoneyWeek Deems Mexican Economy ‘One of the Best Places to Invest’

This may surprise you, but Mexico is one of the best places to invest around the world. In the recent years, Mexico’s economy has grown into a huge export power with manufacturing accounting for over 24 percent of its GDP. Mexico also has a large and growing work force that is more highly educated than that of China, making Mexican goods even more competitive. For more on Mexican Economy go to MexicoToday.Org.

Preferred Compounding Opens Mexico Operations in San Luis Potosi

The company Preferred Compounding of Ohio will be expanding south following the recent acquisition of JevsaMex, the Mexican compounding operation owned by Spanish company, Iacp Jevsa. "For several years we've heard from our U.S.-based customers that they want us to fill their needs for high-quality custom compounds in Mexico," said Preferred Compounding Chief Executive Officer Ken Bloom. "The central location of this established mixing operation between Mexico City, Guadalajara and Monterrey provides an excellent platform for doing so." For more Economy and Business news on Mexico go to MexicoToday.Org.

ECD Announces Automotive Trade Mission to Mexico City

As part of the Tennessee Department of Economic and Community Development’s (ECD) TNTrade initiative, participants, including two Chattanooga companies, will be part of a trade mission to Mexico City July 17-20 focusing in on the automotive industry. TNTrade is a statewide initiative to make Tennessee the number one state in the Southeast for high quality jobs. For more Economy and Business news on Mexico go to MexicoToday.Org.

Almaden reports expansion of Mexico’s silver-gold-lead-zinc project

Almaden President/CEO Morgan Poliquin reports positively on the Tuligtic gold-silver project in Puebla State, Mexico. After the discovery of the gold-silver vein system in August of 2010, continued investigation shows a completely different orientation. Multiple zones and broad areas of calcite-quartz veining contained portions of high grade gold and silver mineralization. The corporate goal for 2012 is to produce a resource on the three zones already known and start preliminary drilling on some of the other areas of surface results. For more Economy and Business news on Mexico go to MexicoToday.Org.

Austria’s Engel riding auto sector growth in Mexico

Austrian injection molding machine supplier Engel Holding GmbH reported sales figures were considerably higher in 2012 than in 2011. In 2011, Engel did business in Mexico worth approximately $24.5 million. 60 percent of this business is with the automotive industry, an area in which the company specializes. In the first six months of 2012, auto makers produced an additional 1.41 million light vehicles, 1.25 million more than in the first half of 2011. For more Business news on Mexico go to MexicoToday.Org.

Mexico’s auto output jumped 14 percent in June

The automobile sector in Mexico has started to see significant success, as June 2012 brought record figures for the month of June in any year. According to the Mexican Automobile Industry Association (AMIA), this June saw a 14% increase in production to a record 268,388 vehicles and exports saw a 22% increase from last June. In the first six months of the year, 1.42 million vehicles were produced (13% increase) and 1.17 million were exported (15% increase). For more Economy and Business news on Mexico go to MexicoToday.Org.

“Sister Port” Agreement with Port of New Bedford and Port of Tuxpan

Recently, the Port of New Bedford in Massachusetts, the leading fishing port in the United States, signed a “sister port” agreement with the Port of Tuxpan in Veracruz, Mexico in order to transform the city of Tuxpan into a hub for imports and exports. The Port of Tuxpan is already an important international freight services location for shipping companies and local companies. The “sister port” is hoped to help spur the creation of employment opportunities for many individuals and expand the economic ties between Mexican markets and specifically Massachusetts based businesses. For more Economy and Business news on Mexico go to MexicoToday.Org.

Endeavour Silver’s Q2 production surges by 22 percent

Vancouver-based company Endeavour Silver Corp reports the production of one million ounces of silver and 7,695 ounces of gold this quarter. This shows a 22 percent increase in silver output and a 59 percent increase in gold output. The company expects to meet its full-year production targets of 4.3 million ounces of silver and 26,000 ounces of gold. Despite a 24 percent decrease in the price of silver, the company's revenue rose 11 percent to $40.4 million due to the rise in production. As well as owning and operating the Guanacevi and Guanajuato mines in Mexico, Endeavor Silver Corp announced earlier this year a $250 million deal to buy AuRico Gold Inc's El Cubo silver-gold mine in Mexico. For more Economy and Business news on Mexico go to MexicoToday.Org.

SilverCrest Mines says Santa Elena mine expansion on track for La Joya by Q4

SilverCrest Mines, a Mexican precious metals producer, has reaffirmed the start date for the Santa Elena mine expansion which plans to double its metal production. Detailed engineering for the facility should reach completion by the first quarter of 2013. SilverCrest stated its target to begin engineering by January 2014 with an initial production rate of 1,000 tonnes per day. For more Economy and Business news on Mexico go to MexicoToday.Org.

NAPS Announces New Operations in Guanajuato With Japanese Companies Manufacturing in Mexico

North American Protection Sharing (NAPS, Inc.) looks to offer administrative and compliance support services from its new location in the Mexican state of Guanajuato.
This site is ideal for supporting companies interested in manufacturing in Mexico’s Guanajuato and Aguascalientes. Japanese companies, such as Toyota and Mitsubishi which wish to expand auto manufacturing in North America, are attracted to the Guanajuato location. Since 2010, this area of Mexico has become the most dynamic destination for Japanese investment. For more Economy and Business news on Mexico go to MexicoToday.Org.

Investment in Mexico Surpasses Brazil

Global investment interest and economic growth has switched its focus towards Mexico and away from Brazil in the last year. This is partly in due to Mexico’s strong economic ties to the United States. While Brazil finds itself closely involved with China, Mexico has continued to foster its economic relations with their neighboring United States. Portfolio investment in Mexico is on the rise and overall, Mexico’s economy is growing at a higher rate than anywhere else in Latin America. The gross fixed investment in Mexico rose 1.9 percent in April from March. For more Economy and Business news on Mexico go to MexicoToday.Org.

Leading Gas Supplier, Air Liquide Invests in Mexico

Air Liquide is a prominent French industrial gas supplier, providing services in the medical, electronic, and chemical worlds. Air Liquide is investing in the construction of a new Air Separation Unit (ASU) and a Steam Methane Reformer (SMR) in Pesquería, Nuevo Leon, Mexico. Air Liquide’s decision to invest in Mexico came from the encouraging geographical location the country holds, as well as their emergent economic situation. Air Liquide has plans to supply principal steel manufactures like Ternium and Tenigal with nitrogen and hydrogen provisions in both gas and liquid forms. For more Economy and Business news on Mexico go to MexicoToday.Org.

CEO of Siemens Mesoamerica, Louise Goeser Praises Mexico and Workers in Mexico

The CEO of Siemens Mesoamerica, Louise Goeser called Mexico the “China of the Americas” in a recent statement at a Siemens metals summit in Mexico City. Siemens is a principal innovator of electronics and electrical engineering. CEO Goeser believes Mexico is in the perfect position to surpass China as the primary United States sourcing location in the near future. As a competitive free-trade country, Mexico has the resources, as well as the geographical location to become one of the world’s primary manufacturing hubs. For more Economy and Business news on Mexico go to MexicoToday.Org.

Monterrey International City of Knowledge (MICK) Program to turn Monterrey, Mexico into a “knowledge based economy”

The state of Nuevo León, Mexico is taking steps to modernize their technological and informational capabilities. Monterrey, Mexico the capital city of Nuevo León, has launched the Monterrey International City of Knowledge (MICK) Program in order to promote the development of innovative new ways of economic growth. Technology and the creation of industrial parks are some of the main ways the city hopes to do so. This transformation of the economy needs the support of educational facilities, individuals, and businesses on all levels. For more Economy news on Mexico go to MexicoToday.Org.

J.J. Churchill and The Offshore Group Set Up New Aerospace Parts Manufacturing Location in Mexico

The US-Based Company, Offshore Group, recently entered into an agreement with J.J. Churchill, the UK stationed aerospace parts supplier, for manufacturing services in Mexico. The two companies have signed an agreement in the construction of new gas turbine components. J.J. Churchill is anticipated to set up 38,500 square feet of work space on The Offshore Group’s Roca Fuerte Industrial Park in Guaymas, Sonora, Mexico. J.J. Churchill hopes to employ a number of individuals to work on the manufacturing location in Mexico. For more Business news on Mexico go to MexicoToday.Org.

Altos Hornos de Mexico (AHMSA)’s New Business Ventures in Mexico

The Mexican steelmaker company, Altos Hornos de Mexico (AHMSA) and its Minera del Norte unit have started to develop new projects in the state of Coahuila in Mexico. The ventures are anticipated to cost around $980 million and spur the creation of more than 3,000 jobs in different subdivisions of the economy. Altos Hornos de Mexico is Mexico’s leading steelmaker, with a production capacity of around 3 million tons a year of steel. For more Business news on Mexico go to MexicoToday.Org.

Financial Times Praises Mexico’s Economic Policy, Debunks Stereotypes

A recent article in the Financial Times highlights a number of positive facts about Mexico that run contrary to many popular misconceptions and stereotypes about Mexico.

For example, Mexico has posted economic growth of 5.5 per cent in 2010 and 3.9 per cent in 2011, far outpacing the United States. Industrial production in Mexico surpassed its pre-recession high in early 2011, while U.S. industrial production continues to lag.

National debt in Mexico is stable at 27 per cent of GDP, while in the US it is 98 per cent and rising.

Mexico has also shed its protectionist past and embraced free trade. In 1980, trade as a percentage of GDP was only 17.5 per cent. Today exports and imports represent 61 per cent of economic output. And about 80 per cent of Mexico’s exports are now manufactured goods. For more stories like this one, go to MexicoToday.org.

Virgin Atlantic’s President Sir Richard Branson Visits Cancun for the Inaugural Flight Cancun-London

On July 6, British airline Virgin Atlantic’s president Sir Richard Branson visited visit Cancun, Mexico, to celebrate the inaugural flight between Cancun and London’s Gatwick airport. This new flight is part of the airline’s expansion into the Caribbean.
Click on link to read more on Virgin Atlantic's latest business move.

Nissan to Build New Plant in Aguascalientes, One of Most Ambitious Manufacturing Projects in Mexico's History

Nissan continues growing its investments in Mexico. In a ceremony where Mexican and Japanese traditions merged in a “first stone” ceremony, the Japanese automotive manufacturer announced it will build its third manufacturing complex in Mexico in the state of Aguascalientes. The new automotive complex, which will become the second one in the state, will be 2.5 times larger than the current complex. More than 250 guests witnessed the laying of this “first stone”, which will bring to life one of the most ambitious manufacturing projects in Mexico's history.