Chinese bumper supplier plans $100 million expansion in Mexico
A Chinese automotive molder, moving to follow its customer, BMW AG, is eyeing a major investment in Mexico.
Jiangnan MPT Co., based in Jiangyin, China, plans to spend $100 million (612 million yuan) to establish a manufacturing footprint in Mexico.
The new wholly owned subsidiary, Minghua de Mexico in San Luis Potosi, will produce plastic components, plated parts and molds. The company also will produce doors, windows and spoilers.
Jiangnan said the plant will help establish closer ties with BMW, the world's top-selling luxury brand, while enhancing the company's overseas operations.
"It will build our brand and lay a solid foundation for future global expansion," the company added.
The proposed investment awaits approval by the company's shareholders on Aug. 11.
Jiangnan MPT says it is China's leading supplier of exterior trim with the capacity to produce 3 million bumpers a year. It has more than 2,000 employees in China.
The new wholly owned subsidiary, Minghua de Mexico in San Luis Potosi, will produce plastic components, plated parts and molds. The company also will produce doors, windows and spoilers.
Jiangnan said the plant will help establish closer ties with BMW, the world's top-selling luxury brand, while enhancing the company's overseas operations.
"It will build our brand and lay a solid foundation for future global expansion," the company added.
The proposed investment awaits approval by the company's shareholders on Aug. 11.
Jiangnan MPT says it is China's leading supplier of exterior trim with the capacity to produce 3 million bumpers a year. It has more than 2,000 employees in China.
