Mexichem eyes $1 billion cracker venture

Reuters - Mexican industrial conglomerate Mexichem said on Thursday it is eyeing a $1 billion venture with Occidental Chemical Corp, known as Oxychem, to build a cracker that would be fully operational in 2016.

Manufacturing cools in July as slowdown weighs in

Reuters - The pace of growth in Mexico's manufacturing sector slowed slightly in July as factories depleted supplies for new goods amid a slowdown in global growth, a survey showed.

Mazda drops plans to export cars from Mexico to Brazil

Reuters - Mazda Motor Corp. has abandoned its plan to ship automobiles to Brazil from a plant it is constructing in Mexico due to the South American nation's new import restrictions. Instead, the automaker plans to begin local production in Brazil by 2014.\

Mexico posts June trade surplus, but some see slowing

Dow Jones - Mexico posted a solid June trade surplus on record auto exports, with falling petroleum imports and exports mostly balancing each other out, but analysts saw nonauto weakness as a sign that the U.S. slowdown could hit Mexico harder.

Mexico factory exports dip in June for second month

Reuters - Mexican manufactured exports dipped in June, adjusted for seasonal swings, for the second straight month as a global slowdown weighed on demand. Slowing job growth in the United States might be crimping demand for Mexican exports.

Chevrolet says new Mexico factory will make Trax

Reuters - U.S. carmaker General Motors Co. said it would build the Chevrolet Trax vehicle and a new generation of pickups at plants in Mexico. The Detroit-based company is investing $120 million in a plant in San Luis Potosi to produce the SUV crossover.

Mexico takes flight as hub for aerospace industry

McClatchy Newspapers - More than 260 aerospace companies now operate in Mexico, exporting some $4.3 billion in aircraft and parts last year. The Mexican government has set a target of $12 billion in such exports by 2020, which would surpass Brazil and Spain.

Hyundai is setting up die casting plant in Tijuana

PR Web - Korean automotive leader Hyundai announced investment in a new $131 million aluminum die casting plant in Tijuana, adding nearly 300 new jobs to the company’s current base of 2,300 employees.

Industrial output posts surprise monthly drop

Reuters - Mexican industrial output posted a surprise month-on-month drop in May as manufacturing slowed, but indications that activity has picked up since then underpinned expectations the central bank will hold interest rates steady for now.

Siemens exec touts Mexican workforce over China

Industry Week - Siemens Mesoamerica Chief Executive Louse Goeser touts Mexico's educated workforce as one of the reasons the country could replace China as a preferred U.S. sourcing location.

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