German steelmaker ThyssenKrupp will invest 115 million euros to build two assembly plants in Puebla and Guanajuato, Mexico to serve the automotive clusters in those regions.
Patrick Bass, CEO of the firm’s North American operations, explained that these two plants will generate over 600 highly specialized new jobs, an increase of 18.2 percent over the 3,300 they already have in the country.
In the Puebla plant, which began construction a week ago, 70 million euros will be invested, and the plan is to start operating in late 2017 or early 2018. The plant will build steering systems for vehicles, and eventually reach an annual output of 1.4 million units.
Moreover, the factory being built in San Miguel de Allende, Guanajuato, comprising the remaining 45 million euro investment, will manufacture camshafts.