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thyssenkrupp remains on growth track in Mexico

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World Cement,

The industrial and technology group thyssenkrupp continues to invest in Mexico. Together with Miguel Márquez Márquez, Governor of Guanajuato, the company presented its latest growth plans in Essen. At the new auto components park started last year in San Miguel de Allende, Guanajuato, the Group plans to build a further plant for active and passive damper systems. At the beginning of the year thyssenkrupp began the construction of a production plant for cylinder head covers with integrated camshafts at the site. thyssenkrupp is investing altogether around €150 million in the new industrial park. Production supplies to OEMs in North America are planned from 2017/2018. The 200 000 m2 components site will create up to 750 new jobs.

Dr. Karsten Kroos, CEO of the Components Technology business area at thyssenkrupp: “Mexico plays a central role in the expansion of our auto components business. Our investment programs there are a key part of our growth and regionalisation strategy. On completion of the new components site in San Miguel de Allende we will more than double the size of our production network in Mexico to altogether eight production sites in just a few years.”

The auto industry in Mexico has grown by on average eight percent per year over the past five years, and this rate of growth is expected to continue. With target output of five million units in 2020, Mexico would become the world’s sixth biggest automobile producer.

The Components Technology business area at thyssenkrupp is profiting from this growth with a good order backlog for both chassis and engine components. Last fiscal year the components division increased its sales in North America by 17% year-on-year to around €1.9 billion. thyssenkrupp is increasingly focusing on high-tech systems manufactured in a global production network to the same high production and quality standards to meet increasing customer requirements.

thyssenkrupp has been producing components for the North American auto market in Mexico since the 1960s. The product range includes engine and steering components, springs and stabilisers, and axle module assembly. By locating two new technologies at the new industrial park in San Miguel de Allende, the company will have competitive cost structures to unlock further growth potential. thyssenkrupp is one of the world’s leading suppliers of both dampers and assembled camshafts. With the thyssenkrupp Bilstein brand, the company is also world market leader in the racing and aftermarket sectors.

Adapted from press release by Joseph Green

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