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Bosch to build $215 million plant in central Mexico

by Uma Rajagopal
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2022 09 14T154954Z 1 LYNXMPEI8D0WS RTROPTP 4 UKRAINE BUSINESS

(Corrects description of product to be made in new plant; corrects name of parent company to Bosch Group from Bosch Ltd)

MEXICO CITY (Reuters) -Technology supplier Bosch Group on Wednesday announced plans to construct a 4.3 billion peso ($215 million) plant in the central Mexican state of Queretaro.

Its subsidiary Bosch Rexroth will produce components for mobile applications designed for machinery, according to a statement from the company.

The plant will occupy 42,000 square meters (452,080 square feet) and is set to start operations next year, creating more than 900 jobs.

“We will be able to develop a stronger regional supply chain,” President and Chief Executive Officer of Bosch Rexroth North America Greg Gumbs said in the statement.

The company has announced investments in Mexico of about 15 billion pesos in recent months to expand plants in the states of Queretaro and Aguascalientes, and a new production site in Nuevo Leon.

($1= 19.9840 Mexican pesos)

(Reporting by Raul Cortes Fernandez; Writing by Valentine Hilaire; editing by Jonathan Oatis)

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Uma Rajagopal

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.