Korea-based appliance maker Daewoo Electronics announced that it will expand its operations in Mexico by doubling manufacturing capacity to 1.4 million units of white electronic goods.
The company said it will invest U.S. $20 million to increase the manufacturing capacity of its Mexican operation, Daewoo Electronics Home Appliance De Mexico, by 2005.
The plant will be developed as a strategic base for the electronics firm to capture markets in North, Central, and South America, Daewoo said. The expansion plan was unveiled on the occasion of the 10th anniversary of the company's advance into Mexico.
The plant, established in 1994, has produced refrigerators, washers, and microwaves, mainly for the Mexican market. Daewoo sold products amounting to $180 million in Mexico last year and aims to raise sales by 15 percent this year. (The Korea Times)
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