Mexico in Brief

Mexico in Brief, our monthly newsletter, is available in this section. Our Mexico in Brief summarizes the most relevant business news in Mexico, and also lists the main Mexican economic indicators. Our file is organized by issue number and issue date. Please consult it at your convenience and send us any comments through the link appearing below, or emailing us at mexico.in.brief@jatabogados.com.

From Mexico in Brief Newsletter

  • IENOVA COMPLETES DEBT OFFERING.

    IEnova, a Mexican company dedicated to the development, construction and operation of large energy infrastructure projects, placed an approximately U.S.$840 million debt offering. The offering comprised a U.S.$300 million aggregate principal amount of 3.750% notes due in 2028, and an U.S.$540 million aggregate principal amount of 4.875% notes due in 2048.

  • MEXICAN FIBRAS (REITS) ACTIVE AND WITH STRONG INVESTMENTS.

    Terrafina invested approximately U.S.$180 million in the acquisition of 17 new real-estate assets. Prologis, an industrial real-state conglomerate, acquired two class “A” developments for its real-estate investment trust in Mexico, one in the Mexican State of Tamaulipas for U.S.$19 million and the other one in the Mexican State of Mexico for approximately U.S.$10 million. Additionally, Fibra Uno or FUNO, announced a debt-offering of U.S.$355 million.

  • GENOMMA LAB BUILDING A NEW PLANT IN MEXICO.

    Genomma Lab, a Mexico-based pharmaceutical company, started the construction of its first manufacturing plant in Mexico, with an investment of approximately U.S.$70 million.

  • GROWING HOTEL INVESTMENTS IN THE STATE OF NUEVO LEON.

    The president of the Association of Hotels of the Mexican State of Nuevo Leon informed that several companies from the hotel sector in Nuevo Leon, such as NH, Real Inn, City Express, Westin, Hilton and Marriott, all plan to open ten hotels during 2018, which will represent an investment of approximately U.S.$120 million.

  • FORD PREPARES TO BUILD ELECTRIC CARS IN MEXICO.

    As part of its global strategy, Ford announced its plans to continue investing in Mexico, specifically for the assembly of a small, 300-mile range battery-powered vehicle to be manufactured in a plant in 2020 in Cuautitlan, a city in the State of Mexico, just north of Mexico City. Ford plans to maximize its margins on battery electric vehicles by moving production to Mexico, where labor costs are significantly lower.

  • GRUPO TECHINT TO DEVELOP STEEL MILL IN MEXICO.

    Italian-Argentine conglomerate Grupo Techint will invest approximately U.S.$1 billion in the construction of a hot-rolled steel mill in the municipality of Pesqueria, in the Mexican State of Nuevo Leon. The hot rolling mill will be developed as part of the expansion of their industrial center, where the consortium first started operations in 2013. The plant’s annual output capacity is estimated at approximately 3.7 million metric tons and is intended to meet the demand of the automotive industry, the household appliance sector, as well as the machinery, energy-industry equipment and construction sectors in Mexico.

  • SIEMENS ANNOUNCES BIG INVESTMENT IN MEXICAN HUMAN CAPITAL.

    German-based conglomerate Siemens will invest approximately U.S.$53 million in training and developing Mexican engineers and technicians, to be specialized in digitalization and Industry 4.0, which encompasses trends towards the increased automation of manufacturing technologies, the internet of things and the use of artificial intelligence.

  • ROUND 1 SERVICES ESTIMATED AT U.S.$826 MILLION.

    Between 2017 and 2020 the oil and gas fields, those awarded as a result of the first three announcements of Round 1, will demand approximately U.S.$826 million in goods and services, in accordance with the National Hydrocarbons Commission. In the Mexican State of Nuevo Leon, approximately U.S.$49 million will be required for the gas blocks tendered in Round 1, representing 6% of the national supply needed.

  • MEXICO’S SPECIAL ECONOMIC ZONES WILL ATTRACT MILLIONS IN NEW INVESTMENTS.

    According to the Mexican President Enrique Peña Nieto, five special economic zones - or SEZs - will attract new investments of approximately U.S.$36 billion over the next 10 to 15 years. After signing an executive decree to create the newest SEZ in Salina Cruz, Oaxaca, new executive decrees confirmed the creation of 4 new SEZs in September in Puerto Chiapas, Chiapas; Lazaro Cárdenas, Michoacán; Coatzacoalcos, Veracruz and Puerto Progreso, Yucatán.