The Brazilian company Maxion Structural Components will invest MXN 1.3 billion ($68 million) for a new structural components plant for the automotive industry in the northern city of Castaños, in the Mexican state of Coahuila, the local government reported.
“I was pleased to announce the expansion of the automotive supply company Maxion Structural Components, which is investing MXN 1.3 billion and generating 500 new jobs,” reported the governor of Coahuila, Manolo Jiménez, on his social networks.
The company in Mexico produces side members, metal stampings and welded assemblies for heavy vehicles. It has a payroll of 2,400 people.
The Castaños plant is located 9.0 miles south of Monclova, the headquarters of the steel giant Altos Hornos de México (AHMSA), paralyzed by insolvency since January of last year.
The Brazilian Maxion Structural Components has 10 plants in four countries on the American continent: 4 in Brazil, 4 in Argentina, one in Mexico and one in Uruguay.