Mexico is the second largest economy in Latin America, after Brazil, and has an ideal location for accessing the US market. It is becoming increasingly attractive for global companies that are nearshoring by moving production away from Asia to the north part of the country, between the cities of Monterrey and Tijuana. The Mexican economy is estimated to grow up to 3.0% both this year and next, boosted by increased manufacturing investment, according to the most up-to-date government forecast.[1]
Smurfit Kappa’s latest USD12 million investment in its Tijuana plant includes new machinery and process upgrades which will significantly increase both printing quality and efficiency. Laurent Sellier, Smurfit Kappa CEO of the Americas, commented: “Mexico is an important market for Smurfit Kappa. We have invested substantial resources both in paper machines and corrugated plants while increasing our network to support the country’s economy and our customers’ needs.
“This important investment will lead us to increase capacity and productivity so we’re ready for the fast pace of our customers’ businesses. We will continue to invest as part of our firm commitment to Mexico and its growing market”.
Smurfit Kappa has operated in Mexico since 1957 and has had a presence in the northern Baja California region for over 10 years. The Group has been increasing production capacity in the country, and in the past five years has invested over USD350 million in its operations.
Follow us on
[1] Source: https://www.reuters.com/markets/mexico-draft-budget-sees-economic-growth-up-3-inflation-cooling-2023-03 31