Japanese company Okita Iron Works will invest $40 million to expand its plant to produce steel components for the automotive industry in the central state of Guanajuato, the state's governor, Diego Sinhué Rodríguez Vallejo, reported from Asia on his work tour.
“An honor to visit the management team of Okita Iron Works in Japan, leaders in quality and service. Thank you for having us and for choosing Guanajuato as your expansion destination in North America. This $40 million investment will generate 200 direct jobs, strengthening our automotive cluster and confirming that we are an ideal destination for global investment,” the governor said on his personal Twitter account.
The Japanese company has production plants in Japan and China and its expansion to North America was made in Guanajuato in 2021.
Industry data shows that there are four vehicle manufacturing plants, four vehicle engine plants and three vehicle transmission manufacturing plants in the state, including General Motors (in the city of Silao), Honda (Celaya), Ford (Irapuato), Mazda (Salamanca), Toyota (Apaseo el Grande) and Volkswagen (Guanajuato).
Okita Iron Works produces forged and/or cold formed bearing part materials and automotive parts materials. In fiscal 2022 (ended August 2022), net sales totaled $160 million.