Doosan Group, a prominent South Korea-based industrial conglomerate, has unveiled plans to invest $300 million in Mexico, with the aim of manufacturing a range of equipment, including loaders, excavators, compact tractors, utility products, and telehandlers. This exciting development was recently disclosed by the company through an official press release. Notably, the investment will be executed through their United States-based subsidiary, Bobcat Company.
The core element of this venture is the establishment of a sprawling 700,000-square-foot manufacturing facility in Monterrey, Nuevo León, a northern Mexican city situated approximately 160 miles south of Laredo, Texas. This facility will encompass dedicated areas for tasks like welding, painting, and assembly, and will also include an on-site warehouse and office spaces. Bobcat Company has emphasized that this state-of-the-art facility will implement cutting-edge technology, placing a strong emphasis on quality, precision, and energy efficiency.
Bobcat Company anticipates that this substantial investment will enhance its North American compact loader production capacity by 20 percent, serving to meet increasing customer demand and fueling the company's overall growth. The $300 million commitment reflects a strategic move to fortify production capabilities and support their expanding operations in the region.
Read More: Mexico's FDI surge: Steel industry leads as investments hit $32.9 Billion in Jan-Nov 2023
Vietnam Steel by Hoa Sen Group