Korean automaker Kia announced it will invest more than US$2.5 billion with their suppliers in Nuevo Leon, as Ternium is ready to supply steel to them.
The company will build an assembly plant in the town of Pesquería, which is good news for Nuevo Leon and Mexico, as it will help increase domestic automobile production and strengthen the country as the fourth largest exporter of cars, said Max Vedoya CEO of Ternium Mexico.
This announcement confirms that the Mexican automotive industry continues to become one of the most dynamic worldwide.
Vedoya said that the arrival of new assembly plants and expanding the facilities already operating in the country represent a great opportunity for development and growth for Mexico.
This is important for Ternium, as the company is currently the largest supplier of steel to the automotive industry in Mexico, thanks to the investment of $1.1 billion for the construction of the Pesquería Industrial Center; Ternium is well positioned to further enhance their presence and participation in the industry.
Vedoya said that with the construction and commissioning of the center, the company is ready to meet the growing demand for steel products within the automotive industry in Mexico.
