Thread: Japanese steel firm is investor Mexican Factory

Japanese steel firm is investor No. 1000

Nucor-JFE Steel will supply galvanized steel for the automotive industry



Mexico News Daily | Saturday, January 14, 2017
A firm that will manufacture galvanized steel strips for use in the automotive industry is the 1,000^th Japanese company to invest in Mexico.

Economy Secretary Ildefonso Guajardo Villarreal recognized Nucor-JFE Steel at a ceremony yesterday, where it was announced that Japanese investment in Mexico totaled US $457 billion between 1999 and the first quarter of last year.

The numbers make Japan the largest Asian investor in Mexico.

Nucor-FJE Steel will begin construction next month of its $270-million plant in Silao, Guanajuato, whose capacity will be 400,000 tonnes of steel strips per year. It will employ 300 people and begin operating in 2019.

Japan is Mexico’s third-largest trading partner, behind the United States and Canada. One of every three vehicles exported from Mexico is of Japanese make.

Guajardo also forecast that Foreign Direct Investment (FDI) in 2017 will be $25 billion, $5 billion less than what has been estimated for 2016. That figure won’t be available until next month.

The 2017 estimate would be the lowest FDI figure since 2011, when it totaled $24.667 billion.

- See more at: http://mexiconewsdaily.com/news/japa....pFjqU96P.dpuf

Don't be fooled!

This is a smoke screen to bypass U.S. Tariffs and Steel Industry regulations on Japan imports.

Two companies have already been caught relocating their steel factories to Mexico for the
sole purchase of imported in the U.S..