Search: Look for:   Last 1 Month   Last 6 Months   All time
Home :: World

Caterpillar starts work on $500 mn plant in Mexico

Mexico,Business/Economy, Fri, 09 Nov 2012 IANS

Monterrey (Mexico), Nov 9 (IANS/EFE) US heavy equipment maker Caterpillar Inc. began construction Thursday on a $500 million factory in the northern Mexican state of Nuevo Leon.

The investment will generate 1,000 direct jobs, Caterpillar Mexico chief Ron Riekena said during the ceremonial laying of the cornerstone for what will be the company's largest plant in Latin America.

Also present for the event was Nuevo Leon Gov. Rodrigo Medina.

The facility, located at an industrial park in Cienega de Flores, will produce components for Caterpillar's off-highway trucks, excavators and bulldozers, Riekena said.

Construction should be completed in late 2014, the executive said, attributing Caterpillar's choice of the Nuevo Leon site to the state's good infrastructure and transport links and its skilled workforce.

The firm had profits of $4.9 billion last year, up 82 percent over 2010, thanks to increased demand for its products.



President, Vice President, Prime Minister and former Prime Minister on Guru Nanak Dev Jayanti
Jackie Shroff addressing a press conference at the 46th IFFI 2015
Nana Patekar at the 46th International Film Festival of India
PM Modi addressing at the India-Singapore Economic Convention
PM Modi and the Prime Minister of Singapore jointly releasing the India Singapore stamps
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image




Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.