Brief Business in Mexico

Güntner inaugurates its third plant in Nuevo Leon

Güntner, the German corporation, inaugurated its third plant in Apodaca, Nuevo Leon, with a US$3 million investment to manufacture compressors for industrial refrigeration systems. The production floor in this plant has an area of 4,000 square meters built on an 11,000 square meters surface, which provides enough room to facilitate expansion, if the growing demand prevails. Michael Schmid, General Director at Güntner, explained that their production is on high demand, since several industrial sectors, such as food and beverages and distribution, use refrigeration systems, but they could also serve the air conditioning business.

Source: El Norte

Plastivaloire is established in San Luis Potosi

The French company Plastivaloire (PVL), European leader in plastic equipment for vehicle interiors, just announced that it will set up headquarters in Mexico, through a new affiliate company called "Plastivaloire Mexico", that will be located in the State of San Luis Potosi and it is expected to start production by late 2016. The group is looking for consolidation among plastic products manufacturers, deploying centers where automotive industry leaders are present. Plastivaloire confirmed in February its 2015/16 goals, after experiencing a 26.7% increase in sales during the first trimester, reaching a record of US$149 million.

Business Investments in Mexico

The National Foreign Trade Bank (BANCOMEXT) and the Official Credit Institute (ICO) of Spain signed a memorandum of understanding for promote programs and projects that promote cooperation between the parts.

Based on the provisions of the Memorandum, parts will contemplate the possibility of contemplate, co-finance or guarantee investment projects of common interest.

The above, directed to small and medium enterprises (SMEs), as well as to big projects in accordance with national legislation and the operation of each of the parts, according to a statement of Mexican Institution.

Also, both institutions could cooperate in the provisions of financial and non financial services to SMEs, to both Spanish and Mexican companies, and might agree other activities, always subject with to their internal policies and procedures.

Bancomext said that the terms and conditions of any financing, co-financing or guarantee that it is provided by any of the parties relating to projects of common interest will be negotiated independently of the Memorandum of Understanding.

With this, both institutions in their condition as development banks, will promote cooperation based on the principles of equality, mutual benefit, respect and trust, resulting from both established international banking, practice, as well as all applicable laws and regulations.

The document was signed by the CEO of Bancomext, Alejandro Diaz de Leon Carrillo and the president of ICO, public company under the Ministry of Economy and Competitiveness through the Secretary of State for Economic and Business Support, Emma Navarro Aguilera.

Source: Notimex

Queretaro will surpass the estimated growth

The conditions to surpass the estimated 5% growth rate in the State are prevalent, along with the State Government's expectations to create 30 thousand new jobs during this year, assured the president of the Mexican Employers' Confederation (Coparmex), Dario Malpica Basurto. "Companies are still arriving, even from neighboring states such as Guanajuato or San Luis Potosi. There are entrepreneurs from these States with the intention to come to Queretaro, even though they have favorable conditions in their home State, which is a good referent for Queretaro's attractiveness", he added. About Guanajuato's venture into the aerospace industry, the entrepreneurial leader assured that Queretaro has moved forward in the Sector, with about 20 years of trajectory, which is why, if other states want to begin, we are already ahead in the race and I don't think they can reach us". "Each time a new option to attract aerospace industry is opened, there is going to be competition, but I do not think this will decrease or lower the momentum in Queretaro", declared Malpica Basurto.

source: Coparmex

Mexico and Europe re-negotiate free trade agreement

Officers from both Mexico and the European Union (E.U.) will be meeting in June for the first round of negotiations to update the existing bilateral Free Trade Agreement, announced the Minister of Economy, Ildefonso Guajardo, after meeting the European Commissionaire of Commerce, Cecilia Malmström. The main focus will be the creation of chapters about Electronic Commerce, Intellectual Property, Environmental Protection and Public Tenure, among other relevant topics, said Mr. Guajardo. The main objective is to adapt this agreement for "new challenges", making it similar to the agreements has already signed with Canada, Colombia, Peru and Ecuador, as well as the U.S. treaty, that is still under negotiations. Business relations have been successful ever since the original agreement was signed, remarked Mr. Guajardo and Mrs. Malmström, with commercial exchange up by 250%, a total value of US$62.1 billion during 2015. Besides, the E.U. secured its position as the second largest source of Foreign Investment in Mexico, contributing 40% of the total amount.

Source: Manufactura

Swedish entrepreneurs turn to Coahuila

Representatives from at least 10 Swedish companies will visit Coahuila next November, to explore the possibility of making investments, informed Ricardo Schumm Cerpa, Sub secretary of Economic Development, Competitiveness and Tourism. This mission was scheduled jointly with ProMexico's business counselor, Carlos Perez Cirera, and Swedish businessmen from the automotive sector, who are eager to learn about the opportunities for investment in the clusters of the Southeast and Laguna. The interest of the Swedish executives sprung as they found out about the amount of Tier 1, Tier 2 and Tier 3 suppliers and assemblers located in the state.

Source: Zocalo Saltillo