Reuters - Mexican steelmaker Altos Hornos de Mexico, or AHMSA, and South Korea's Pohang Iron and Steel Company (POSCO) are evaluating a joint mining venture to provide Mexican iron ore to the Korean steelmaker, AHMSA said.
Sentido Comun - Japanese company Akebono Brake announced plans to open a new brake factory in Mexico, tentatively in the state of Guanajuato, with an initial investment of $5.20 billion.
Forbes - Nokia this morning announced that it will cut 4,000 jobs at factories in Hungary, Mexico and Finland as part of an ongoing review of its smartphone manufacturing operations intended to boost the company’s competitiveness in the global market.
PRNewswire - HELLA Lighting plans to break ground on a new 215,000-square-foot facility to produce automotive headlamps and rear lighting systems in Irapuato later this spring. The new plant is scheduled to open in June 2013.
InSight - Despite rising crime in northern Mexico, large US companies have continued to invest billions in the region, reports the Houston Chronicle. Close to 2 million workers are still employed in 5,500 US-owned factories.
mfrtech.com - Mexico continues to extend research and development grant programs to provide direct tax cash subsidies to manufacturers for qualified R&D projects. The filing deadline for the incentive is March 9, 2012.
Bioenergy insight - Algae producer Aquaviridis has joined forces with OriginOil to develop a new technology that extracts oil from the algae and will develop this multi-phase production at its Mexicali site in Mexico.
3D-Car-Shows - Chrysler de Mexico reported January 2012 sales of 7,516 units, a 4 percent increase compared with sales in January 2011. The Jeep Compass posted a gain of 201 percent year-over-year.
Bloomberg - Mexico’s peso advanced the most in two weeks as speculation that manufacturing growth is quickening in the U.S. boosted the outlook for the Latin American country’s exports. The peso rose 0.8 percent to 12.9408 per U.S. dollar.
Sentido Comun - Siemens has opened a new manufacturing plant in Zapopan, Jalisco, to manufacture starters for electric motors and control components for industrial electrial processes. The company expects to generate about 150 jobs.