The Canadian auto parts company Magna International opened its 30th manufacturing facility in Mexico on Wednesday May 18. This US $135 million plant in Querétaro will make automotive exterior products, from bumpers to rocker panels.
Magna Exteriors Querétaro is a 27,000-square-meter injection molding and robotic paint factory that will employ about 350 people this year, increasing to 600 in 2017.
State Governor Francisco Domínguez Servién said at the opening ceremony that the automotive industry is now worth 44 billion pesos (US $2.37 billion) annually to Querétaro, that equals to 10% of the National Gross Domestic Product.
He also said it provides quality employment to 94,500 Querétaro residents, both directly and indirectly.
The governor attributed the industry’s growth in the state to the competitive advantages provided by first-class logistics infrastructure, including highways, an airport and railways.
Domínguez Servién cited as well an orderly, peaceful and secure environment for investors.
Magna International established its presence in Mexico in 1991 with a plant in Puebla.
Source: MexicoNewsDaily