Appliance maker Whirlpool Corp. (Benton Harbor, MI, U.S.) announced that it plans to spend about U.S. $320 million within 4 years to produce more refrigerators, washing machines and stoves in Mexico.
The company already makes about 2.5 million appliances a year in Mexico, and could double that by the time that expansion is completed. "We're very bullish and optimistic about the economy and the appliance market here in Mexico," said Roy Armes, who runs Whirlpool Mexico SA. "Mexico is one of the biggest investments that our company is making at this point in time."
According to the company, appliance sales in Mexico have grown between 5 percent and 8 percent per year during the past 10 years as rising incomes have allowed families to trade up to more expensive replacements, Armes said. Whirlpool also exports about 35 percent of what it makes in Mexico. (Detroit Free Press)
to Daily News