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Hot Off the Press
Minster Set to be Sold
Tuesday, March 06, 2012
The Minster Machine Company, Minster, OH, is being acquired by Nidec-Shimpo, a division of Nidec Corporation. Kyoto, Japan. The transaction is expected to be completed early in April, 2012. Says John Winch, Minster president and CEO: “We feel the acquisition by Nidec will give Minster a much larger competitive global footprint in the machinery, automation and services marketplace, while maintaining local production and management.” Operations will continue in Minster, and current owners John and David Winch will remain with the organization, as will the balance of the management team.
Hella to Open New Lighting Plant in Irapuato
Thursday, March 01, 2012
German-based company Hella announced plans to open a new $100 million automotive-lighting plant in Irapuato. Scheduled to open in June 2013, the plant will have 800 employees and be able to manufacture 1.2 million headlamps and 1.5 million rear combination lamps per year. Hella supplies all of the major automakers with plants in central Mexico, including Nissan, VW, BMW, General Motors, Ford, Chrysler and Mercedes. Hella, which also operates manufacturing plants in Guadalajara and metropolitan Mexico City, is building a design and development center in Guadalajara, scheduled to open in April 2012.
Mexico's Manufacturing Base Rebounds
Thursday, March 01, 2012
“As companies expand their capabilities, Mexico’s advantages—and proximity to its biggest export market—will become evident and its manufacturing base will expand even further,” according to a recent article from Area Development Online. The article cites a report from Boston Consulting Group which says that by 2015, wages in Mexico will be “significantly lower than in China…the fully loaded cost of hiring Chinese workers will be 25 percent higher than the cost of using Mexican workers.”
The article also discusses the health of Mexico’s three primary manufacturing industries—automotive, aerospace and medical devices. It notes that according to a recent report, “auto production in Mexico is expected to reach 2.4 million units annually by 2014, with a projected growth rate of 5.5 percent per year. Regarding the aerospace industry, the article cites a CCN Mexico Report which finds that “during the next 5 years, the sector is expected to create 35,000 jobs. In addition, it references a Geo-Mexico report that predicts the number of aerospace companies in Mexico to grow from 232 in 2010 to more than 350 in 2016. “Exports of aerospace parts were worth $3.1 billion in 2010, and that is expected to jump to $5.7 billion by 2015.”
Read the article here.