Trade & Investment
Prime Wheel to open factory in Tijuana
Maquila Portal - Prime Wheel, a Japanese manufacturer of custom automotive wheels, plans to start operations in Tijuana in two months, generating 1,000 jobs. Prime Wheel, founded in 1989, supplies wheels to companies all over the world.
High tariffs cut U.S. exports of fries to Mexico
The Hill - Export of U.S. frozen french fries and other frozen potato products to Mexico dropped in value by 50 percent from April to December 2009 after Mexico imposed a 20 percent tariff on frozen potatoes and other U.S. exports. Almost all of the lost business has moved to Canada.
Mexico textile industry slips during 2009
Dow Jones - Mexico's textile and apparel exports to the U.S. fell by 16 percent in 2009 to $4.14 billion compared with the previous year, the National Textile Industry Chamber said. The figures, based on U.S. government statistics, put Mexico far behind leading exporter China, and trailing Vietnam and India.
Mexicans drank 32% more Jack Daniel's
CNNExpansion.com - Jack Daniel's saw whiskey consumption in Mexico increase by 32 percent in 2009 despite the crisis, closing the year with 140 million pesos ($11.08 million) in sales. Mexico is the firm's 18th largest market with 10,000 outlets in the country.
www.cnnexpansion.com/expansion/2010/03/05/jack-daniels-coquetea-con-mexico
Mexican tomato producers benefit from Fla. freeze
Arizona Daily Star - Mexican tomato wholesalers are benefiting as a frigid Florida winter takes its toll on the produce. The average wholesale price for a box of tomatoes going through Nogales has risen to nearly five times over last year.
www.azstarnet.com/business/local/article_3104d64f-f397-5c4e-aafa-4e894b437565.html
Anti-dumping duties imposed on China, Mexico bricks
Dow Jones - The U.S. Commerce Department announced a preliminary decision Thursday to impose anti-dumping duties against imports of magnesia carbon brick from China and Mexico. Commerce determined that the brick, used in furnaces primarily for the production of iron and steel, is being sold below fair value.
U.S. Rep introduces bill to withdraw from Nafta
Fox News - A Democratic congressman from Mississippi, Rep. Gene Taylor, introduced bipartisan legislation Thursday that would provide for the withdrawal of the United States from the North American Free Trade Agreement. Twenty-six members of Congress have already signed onto the plan to abandon Nafta.
www.foxnews.com/politics/2010/03/04/democratic-lawmaker-leads-bipartisan-effort-repeal-nafta/.
Mexican franchise operators look abroad
El Financiero - About 25 entrepreneurs are preparing to take their franchise operations into foreign markets such as the United Kingdom, France, Sweden, Finland, Italy, Germany, Brazil and Spain, according to the International Franchise Consultant Network.
www.elfinanciero.com.mx/ElFinanciero/Portal/cfpages/contentmgr.cfm
Becton Dickinson is expanding in Mexico
Maquila Portal - At a ceremony to inaugurate U.S. medical supply manufacturer Becton Dickinson's $17 million stainless steel tube plant in San Luis Potosi , the firm announced it will spend $183 million to expand its Cuautitlan plant in the state of Mexico, which manufactures syringes and prefilled glass shots.
Central bank responds to FDI questions
El Semanario - The Bank of Mexico responded to questions about official figures for direct foreign investment that have been questioned in numerous publications, saying that none of the dates and figures that have been provided have been "rearranged."
