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Samsung announces $500 million investment in Mexico


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Samsung announces $500 million investment in Mexico

Samsung announces $500 million investment in Mexico

South Korean manufacturing big, Samsung continues to make vital investments to enhance its international manufacturing amenities. A lot of Samsung’s current investments have been in constructing new chip manufacturing amenities. And now the corporate has put aside a fortune to ramp up manufacturing of different merchandise. Mexico is certainly one of many international locations the place the corporate has manufacturing amenities. It manufactures dwelling home equipment primarily at its crops in Mexico. The corporate will now make investments closely in Mexico to extend the manufacturing of dwelling home equipment.

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Samsung to take a position $500 million in two Mexican cities

Mexican Overseas Minister Marcelo Ebrand introduced that Samsung will make investments $500 million in Mexico to advertise the manufacturing of family home equipment. The corporate will even make investments these funds in two Mexican cities, Querétaro in central Mexico and Tijuana. Ebrand provides that he had a gathering with Samsung Electronics CEO Han Jong-Hee to debate the main points of the funding. He mentioned on Twitter

“In a gathering with Han Jong-Hee, CEO of Samsung Electronics, who confirmed an funding of 500 million {dollars} in Querétaro and Tijuana to extend the manufacturing of family home equipment in Mexico. Samsung arrived in our nation within the late 80’s and is a dependable and productive accomplice!”

Nevertheless, Samsung already operates a TV meeting plant in Tijuana, Mexico, with an annual output of about 19 million items. The manufacturing facility is necessary to Samsung’s general TV technique in North America. Tools from the Tijuana manufacturing facility is bought throughout the continent, which additionally occurs to be one of many firm’s largest TV markets. Subsequently, it is vitally keen to make extra investments in Mexico to additional improve TV manufacturing and enhance product value competitiveness.

Learn Additionally: Samsung to sack Cynora GmbH employees after shopping for the corporate

Having a producing base in Mexico permits the South Korean producer to successfully cater to your entire North American market. Little doubt, the newest funding will considerably improve the corporate’s presence within the Mexican and North American dwelling equipment markets.

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