SOFID funds automotive industry project in Mexico

Details

Created on Tuesday, 30 December 2014 18:33

SOFID supports the expansion of Pinto Brasil Group’s internationalization project to Mexico with the financing of its new industrial unit, designed for the production and commercialization of automotive component’s industry equipment, including assembly lines and wiring production testing tables.

This project (which has an estimated initial investment value of about EUR 1.1 million, to be mostly applied in the acquisition of basic industrial equipment) will have SOFID’s support through a financing up to EUR 500 k to Pinto Brasil SA and to DIVMAC, to be transferred to its Mexican subsidiary, MTS Mexico (Mechanical Technology Systems Jaurez).

With the investment in the new unit, the project supported by SOFID, will propel the creation of 46 new jobs. Considering the fact that it is a technology intensive activity and with high quality standards, staff training is one of the main focuses of the company.

The relocation of production facilities of the major automotive components manufacturers, has determined that the Pinto Brasil Group (which began its internationalization process in 2011) broadened its activity to geographical areas such as Latin America, Northern Africa and Eastern Europe. In this context, MTS Mexico was created in Ciudad Juarez, ensuring the continuity of relations with some of its major customers, particularly Delphi and Yasaki.