07May

Bosch plans to invest up to $100 mln in Mexico this year

May 7, 2021 Michelle Jasso

Germany’s Bosch, the world’s largest car parts supplier, said on Thursday it plans to invest up to $100 million in Mexico this year, a 15% increase, mostly in new manufacturing lines and digitization projects.

Bosch said the resources will be allocated to its operations in Toluca, Mexicali and Hermosillo, as well as the implementation of a network motion control system for auto parts production.

Last year, Bosch invested $87 million in Mexico and had annual sales of $2.7 billion there, a 20% drop from a year earlier due to the impact of the coronavirus pandemic.

Source: Reuters

( https://www.reuters.com/business/autos-transportation/bosch-plans-invest-up-100-mln-mexico-this-year-2021-05-06/ )

03May

GM to invest $1 bln in Mexico to build electric vehicle

May 3, 2021 Michelle Jasso

General Motors Co (GM.N) said on Thursday it will invest $1 billion in a manufacturing complex in Mexico, drawing immediate criticism from the union for U.S. autoworkers as it prepares to build electric vehicles in 2023 in the border state of Coahuila.

GM said it is building a new high-tech paint shop that will start operations from June at the Ramos Arizpe site, which currently assembles conventional internal-combustion vehicles, including the Chevrolet Equinox and Blazer models, along with engines and transmissions.

The United Auto Workers criticized GM’s decision to build EVs in Mexico instead of using the union’s members in the United States when Washington is considering large new incentives for electric vehicles.

“At a time when General Motors is asking for a significant investment by the U.S. government in subsidizing electric vehicles, this is a slap in the face for not only UAW members and their families but also for U.S. taxpayers and the American workforce,” said UAW Vice President Terry Dittes in a statement, calling it “unseemly” to accept U.S. government subsidies and make vehicles outside the United States.

GM responded to the UAW statement by noting it has “recently announced nearly 9,000 jobs and more than $9 billion in new electric vehicle or battery cell manufacturing facilities in Michigan, Ohio and Tennessee.”

The White House did not immediately comment, but President Joe Biden has called for $174 billion to boost U.S. EV production, sales and infrastructure.

On Wednesday, Biden told U.S. lawmakers “there’s no reason why American workers can’t lead the world in the production of electric vehicles and batteries.”

GM issued a news release about the Mexican investment only in Spanish on its website and later provided an English translation when asked.

GM said it also plans to build batteries and electrical components at Ramos Arizpe and is making other improvements to its manufacturing complex.

GM did not say when it began building its new paint shop but previously came under criticism from former President Donald Trump for its Mexican operations. Trump had threatened to tax GM vehicles imported from Mexico.

GM aims to build two Chevrolet electric SUVs at Ramos Arizpe starting in 2023, according to Sam Fiorani, who tracks future vehicle production for AutoForecast Solutions.

A GM spokesman said the company was not announcing or confirming the electric vehicles that will be built in Coahuila, describing Fiorani’s comment as speculation.

The automaker already makes electric vehicles at four locations in the United States and Canada. GM has said it aspires to halt U.S. sales of gasoline-powered passenger vehicles by 2035.

GM’s Ramos Arizpe expansion will include new capacity to make batteries and other electronic components, which will begin during the second half of this year, the company said.

“I’m sure this investment will contribute to continue boosting Mexican manufacturing while bringing development to the region, the industry and the country,” said Francisco Garza, president of GM’s Mexican unit, during a webcast announcement.

Garza said he could not rule out adding a third production shift to the Ramos Arizpe facility in the near term, which would depend on meeting certain economic conditions.

The facility’s current workforce has 5,600 direct employees.

Source: Spot Light Metal

( https://www.spotlightmetal.com/huge-investment-to-support-mexican-car-manufacturers-a-1019683/ )

29Apr

Huge Investment to Support Mexican Car Manufacturers

April 29, 2021 Michelle Jasso

Bethel Automotive Safety Systems Co., Ltd. (WBTL) is investing $50 MUSD in a new plant in Mexico. It is located in Alianza Industrial Park in the Saltillo area of Coahuila State. The facility will be commissioned in Q3 2022 and will create about 550 jobs.

In first phase WBTL will build over 20,000 SQM facility for aluminum casting and machining to cover automotive chassis components such as knuckles and control arms. Foundation brakes and brake controls will be introduced in the future as needed.

“I am very pleased and honored to announce our first manufacturing global expansion into Mexico to support our key customers in North America. WBTL remains fully committed to provide our majors customers with local engineering and manufacturing capabilities. Two years ago, we opened a R&D Center in Detroit and now we are building a factory in Saltillo,” said Dr. Yongbin Yuan, Founder and CEO of WBTL.

“WBTL represent a great opportunity for Coahuila to uprise development for skilled hand labor. In this moments, were we have struggled to maintain jobs, WBTL brings good news to Coahuila setting a milestone being the first Chinese operation at Alianza. WBTL makes and keeps Coahuila strong,” said Miguel Riquelme, Governor of Coahuila.

Source: Spot Light Metal

( https://www.spotlightmetal.com/huge-investment-to-support-mexican-car-manufacturers-a-1019683/ )

29Apr

Labor Outsourcing Reform

April 29, 2021 Michelle Jasso

On April 24, the decree was published in the Official Gazette of the Federation (DOF), which considered the disappearance of the generalized outsourcing and only the specialized one will be allowed. The decree came into force as of its publication with the exception of the reforms made to the Federal Tax Code (CFF), the Income Tax Law, the VAT Law, which will come into force on August 1, 2021. The publication considered modifications to a total of 8 laws listed below:

This reform contemplates that “outsourcing” can only be implemented in specialized services, which are not part of the corporate purpose or preponderant activity of the beneficiary company of those services, as long as the service provider is registered in a registry that will be implemented by the Ministry of Labor and Social Welfare. Like the distribution of profits, workers will have a maximum limit of three months of the worker’s salary or the average of the participation received in the last three years.

Among the main points contemplated by the reform, the following are particularly relevant:

PROHIBITION of the subcontracting of personnel, including by insourcing schemes.
AUTHORIZATION to subcontract specialized services and works that are not part of its corporate purpose or predominant economic activity.
EXCEPTION for specialized outsourcing services to be provided between companies of the same group, as long as these services are not part of the corporate purpose or the predominant activity of the company that receives them.
TRANSITION. The companies that provide outsourcing services and those that hire them will have a maximum time of three months (90 calendar days) after the reform has been published, for the provider companies to dispose of the personnel hired under the outsourcing and Contracting clients transfer subcontracted personnel to their payrolls, carrying out employer substitution to fully recognize the staff’s seniority period.
THE PERSONNEL CONTRACTING AGENCIES may only carry out personnel selection, recruitment and training activities, and may no longer be employers of the placed personnel.
REGISTRATION, Once the reform is published, the authorities must publish those who provide the subcontracting service must register and form part of a STPS registry; the registration will be renewed every three years. The agency will have thirty days after the reform is published to issue the corresponding rules.
SOLIDARITY EMPLOYEE reaffirms that companies that subcontract services or works will be jointly liable for non-compliance with the direct employer.
STPS NOTICE. Those who provide outsourcing services must communicate quarterly, within the first 15 days of the months of January, April, July and October, the contracts entered into in the quarter in question. Object; period of validity; List of workers that will be made available to the beneficiary of the contracted services or jobs, name, CURP, social security number and base contribution salary, as well as name and federal taxpayer registry of the beneficiary of the services for each of the contracts, as well as a simple copy of the authorization issued by the Ministry of Labor and Social Welfare for the provision of specialized services or the execution of specialized works.
FINES. Companies that do not allow the inspection will be fined $ 22,405.00 to $ 448,100.00; those who carry out subcontracting without being registered in the registry, will apply a fine of $ 179,240.00 and up to $ 4’481,000.00; and those who do not submit quarterly reports or do so out of time will be subject to a fine ranging from $ 44,810.00 to $ 179,240.00.
DISTRIBUTION OF PROFITS: The distribution of profits will have as a maximum limit the equivalent of three months of salary or the average received in the last three years, whichever is higher.

Regarding additional reforms to the Federal Labor Law, please find a summary of the most relevant aspects:

Social Security Law (LSS)

Within the Social Security Law, it was determined that the natural or legal person that provides specialized services or executes specialized works must provide quarterly no later than the 17th day of the months of January, May September, the information of the contracts celebrated in the four-month period in question, which includes:

The period of validity
List of workers or other subjects who will provide specialized services or execute specialized works in favor of the beneficiary:
- Indicating your name, CURP, social security number and contribution base salary, as well as the name and federal taxpayer registry of the beneficiary of the services for each of the contracts.

A fine equivalent to the amount of 500 to 2000 times the value of the unit of measurement and updating will be imposed.

Law of the Institute of the National Housing Fund for Workers (INFONAVIT Law)

The period of joint and several liability to which the substituted employer and the substitute employer are subject is reduced from two years to three months, in the case of employer replacement.

Like the IMSS, the natural or legal person that provides specialized services or executes specialized works must provide INFONAVIT every four months, no later than January 17, May and September, the service contracts and various information about them. , such as the amounts of the contributions and amortizations, information on the workers, determination of the contribution base salary, and a simple copy of the registry issued by the STPS.

Within a period of 60 calendar days from the entry into force of the aforementioned reforms, INFONAVIT must issue the rules that establish the procedures to comply with the indicated requirements and dates of submission to it.

Both the IMSS and the INFONAVIT will have the power to inform the Ministry of Labor and Social Welfare about the non-compliance that the employers comment on.

Federal Tax Code (CFF)

An article was incorporated that rejects the deduction or accreditation of expenses related to the subcontracting of personnel, when activities related to both the corporate purpose and the predominant economic activity of the contractor are carried out. Neither will tax deduction or credit effects be given to the services in which personnel are provided or made available to the contractor, when:

Personnel had been transferred from the contractor to the contractor
The services cover preponderant activities of the contractor.

The deduction and the respective accreditation of expenditures related to the outsourcing of specialized services will be allowed when:

They are not part of the corporate purpose or preponderant activity of the contractor
The contractor is registered with the STPS; and (c) the requirements set forth in the LISR and LIVA are met.

In terms of joint and several liability, the contractor of personnel subcontracting services is included as jointly liable for the contributions made by the workers with whom the service has been provided.

When the contractor does not comply with the obligation to deliver to a contractor the information and documentation referred to in the Value Added Tax Law, fines are established from $ 150,000.00 to $ 300,000.00.

Income Tax Law (LISR)

In the case of the provision of specialized services or the execution of specialized works, the contractor must verify, when making the payment of the consideration for the service received, that the contractor has the registry of specialized service provider referred to in the legislation. labor

Likewise, it must have various information from the contractor related to the workers to whom the services have been provided, including:

Copy of the corresponding payroll tax receipts.
Payment receipt issued by the banking institution for the declaration of the tax withholdings made to said workers
Payment of worker-employer fees to the Mexican Institute of Social Security, as well as payment of contributions to the Institute of the National Housing Fund for Workers.

Value Added Tax Law (LIVA)

The obligation to withhold the value added tax (VAT) in subcontracting, incorporated in 2020, for an amount equivalent to 6% of the value of the consideration actually paid, applicable to taxpayers who receive services through which staff are made, is repealed. available to the contractor.

The VAT that is transferred with respect to payments made for non-specialized subcontracting will not be creditable.

Likewise, for the provenance of the accreditation, the contractor must obtain from the contractor a simple copy of the authorization in force before the STPS, as well as the declaration of the monthly payment of VAT, the acknowledgment of receipt of the payment corresponding to the period in which the contractor made the payment of the consideration and of the VAT that was transferred to him. If the contractor does not obtain the aforementioned documentation from the contractor no later than the last day of the following month, he must present a supplementary declaration in which he reduces the amounts that he has credited for said concept.

For more information on the subcontracting reform check the Subcontracting reform.
We hope that this information is useful to you. Any questions or comments in this regard please contact us.

14Apr

Mexico regains status as No. 1 US trade partner

April 14, 2021 Michelle Jasso

Mexico is again the top trading partner of the United States, with two-way trade totaling $48.47 billion in February, according to data from the U.S. Census Bureau.

China had been the top U.S. trade partner for 10 consecutive months beginning last May.

In February, the nation’s top trade partners were:

Mexico, $48.47 billion.
Canada, $47.39 billion.
China, $43.44 billion.
Japan, $14.5 billion.
Germany, $14.1 billion.

The U.S. exported $21 billion in goods to Mexico during February, and imported $27.47 billion from Mexico during the same period.

According to census bureau data analyzed by WorldCity Inc., the top three exports in February from the U.S. to Mexico were liquefied natural gas ($3.4 billion), gasoline ($1.58 billion) and motor vehicle parts ($1.08 billion).

The top three imports from Mexico were passenger cars ($2.28 billion), motor vehicle parts ($2.07 billion) and commercial vehicles ($2.01 billion).

The top trade ports along the U.S.-Mexico border during February were:

Port Laredo, Texas, $17.6 billion.
Ysleta border crossing, Texas, $4.62 billion.
Pharr-Reynosa International Bridge, Texas, $4.28 billion.
Otay Mesa port of entry, California, $3.67 billion.
Eagle Pass port of entry, Texas, $2.41 billion.

The Ysleta port of entry is near El Paso. Officials recently began diverting some commercial traffic from bridges in El Paso to Ysleta to reduce congestion in the area and to serve as a new route for commercial freight vehicles crossing to and from Mexico.

Port Laredo’s total trade declined 5.57% compared to the same month one year ago. The port ranked No. 4 among all U.S. ports in February. It had ranked No. 1 for the same month last year.

Troy Ryley, president of Redwood Mexico for Redwood Logistics, told FreightWaves that “cross-border disruptions prevalent in 2020 have certainly carried over into 2021 and could escalate in the short-term.”

“Mexico shipping continues to face equipment shortage and longer border crossing times heading into the second quarter,” Ryley said. “As the first quarter of 2021 comes to an end, we are bracing ourselves for one of the most challenging spring seasons in the transportation industry yet.”

Laredo’s headhaul index (HAUL.LRD) has risen 72% since April 4, indicating a tightening in trucking capacity, according to FreightWaves SONAR platform.

Source: Freight Waves

( https://www.freightwaves.com/news/mexico-regains-status-as-no-1-us-trade-partner )

09Apr

MercadoLibre to double workforce amid e-commerce boom, hike Mexico investment

April 9, 2021 Michelle Jasso

Argentina-based e-commerce giant MercadoLibre Inc is planning to double its workforce this year and invest $1.1 billion to expand its warehouse space and services in Mexico, spurred on by a pandemic-driven boom in online shopping.

The investment figure is nearly triple the $420 million MercadoLibre spent last year in Mexico, a rapidly growing market where it is battling to stay ahead of global giant Amazon.com Inc and other rivals.

The investment will help MercadoLibre double its warehouse space and boost fintech services such as consumer credit, the company said in a statement, adding that it will create more than 4,700 jobs in the country.

The company, which has a market capitalization of around $75 billion, also said on Tuesday it would add 16,000 new jobs around the region this year, doubling the size of its team. The company’s shares soared last year but have dipped in 2021.

David Geisen, head of MercadoLibre’s Mexico unit, said the company decided to ramp up spending this year based on strong demand not only from shoppers, but also vendors that sell on its platform.

“If we don’t speed up (investment), we would have various bottlenecks,” he told a news conference.

Geisen added that he expected the company to post double-digit growth in Mexico this year, closer to pre-pandemic figures, after revenue grew more than 100% in the third and fourth quarters of 2020 year-on-year.

Mexico also exceeded MercadoLibre’s home market of Argentina in terms of items sold in the fourth quarter of 2020, and the company has steadily ramped up its Mexico delivery network, recently opening a fourth distribution center, a 60,000-square-meter site in the northern state of Nuevo Leon.

By the end of last year, MercadoLibre operated 210,000 square meters (2.26 million square feet) of warehouse space, mostly on the outskirts of Mexico’s populous capital.

MercadoLibre has previously said it would spend almost $1.8 billion in Brazil this year. It has not disclosed overall investment plans for the region.

centro-distribucion-mercado-libre-tepotzotlan_0_1_958_596

Source: Reuters

( https://www.reuters.com/article/us-mercadolibre-mexico-idUSKBN2BT2A9 )

08Apr

Mexican Startup Kavak Valued at $4 Billion After Latest Round

April 8, 2021 Michelle Jasso

Mexican used car startup Kavak raised a record amount of financing to fund a major expansion into Brazil and is now valued at $4 billion.

The Mexico City-based startup plans to begin operations in Brazil after the Series D funding round which raised $485 million and was led by D1 Capital Partners, Ribbit Capital, BOND and Founders Fund Management LLC.

The company, which currently operates in Mexico and Argentina, may enter additional countries in the coming 24 months, said co-founder and chief executive officer Carlos Garcia.

“The market is enormous, it’s broken and it’s really informal,” Garcia said in an interview, adding that the used-car market is worth $60 billion annually in Mexico alone, with 80% of those transactions made between individuals. “The pandemic accelerated consumers’ trust in digital platforms, and car demand will continue growing globally due to social distancing needs.”

Kavak buys used cars through its app, refurbishes them and then sells them to consumers, with the option of giving them medium term financing. Company transactions surged during the pandemic as stay-at-home measures encouraged buyers to move safely in their own cars, and look for cheaper second-hand options. The company grew to 2,500 employees in the past six months, up from 500 before.

The company is planning to use the financing to grow its car inventory to 30,000 cars in the next 18 months — up from 12,000 vehicles currently — and to boost its financing credit lines, invest in technology and in infrastructure including warehouses and refurbishing centers.

Kavak’s upfront investment in Brazil means that it will have more infrastructure there than in Mexico, its home market which is currently its largest.

Kavak was founded in 2016 after Garcia faced multiple setbacks when trying to sell his car to move from Colombia to Mexico, from mechanic issues to receiving incorrect information on the car. That drove him to add transparency to a market prone to fraud, and with potential to grow across emerging markets beyond Latin America, Garcia said.

In prior rounds, Kavak has been also backed by SoftBank Group Corp., Greenoaks Capital, DST Global and Kaszek Ventures, among others. Garcia declined to give an estimate for when the company might look to do an initial public offering.

Source: Bloomberg

(https://www.bloomberg.com/news/articles/2021-04-07/mexican-startup-kavak-valued-at-4-billion-after-latest-round)

07Apr

Understanding the IMMEX Program

April 7, 2021 Michelle Jasso

Mexico is an attractive destination for transnational companies, mainly from the manufacturing industry. As a matter of fact, Mexico is the world´s fourteenth largest FDI recipient.

The above due to the different advantages Mexico offers, among others: strategic geographical position, highly qualified and low cost labor force, its free trade agreements, and its incentive programs, such as the IMMEX program, formally known as the IMMEX Maquiladora Program, which enables foreign companies to operate in Mexico under a preferential tax structure.

What is IMMEX?

Immex stands for the Maquiladora, Manufacturing and Export Services Industry.

Its objective is to strengthen national exports, and to provide companies with tools to adopt new forms of operation and making business, modernize and reduce processes, all in an environment that encourages the attraction and retention of investments in the country.

The IMMEX authorization is an instrument which allows the temporary import of goods that are used in an industrial process or service , to produce, transform or repair foreign goods imported temporarily for subsequent export, without paying VAT and countervailing duties, and deferring or not paying General Import Tax.

One of the main requirements for the IMMEX program is to have annual sales abroad of at least USD $500,000, or invoice exports accounting for at least 10 percent of the total company invoices.

Benefits of the IMMEX Program

The main benefit of the IMMEX Program is they can temporary import of raw materials, components, machinery and equipment among others without paying VAT and countervailing duties and deferring or not paying General Import Tax.

Nevertheless, within a fixed timeframe, the finished manufactured good must be exported, transferred to another IMMEX program, or proceed with a change of regime.

The timeframe in which the temporary imported materials may remain in national territory, according to article 4 of the IMMEX Decree and Article 108 of Customs Law is as follows:

6 months:
- The goods subject to transfer by means of virtual operations, will have a period of permanence of up to six months.
18 months:
- Fuels, lubricants and other materials that are going to be consumed during the production process of the export merchandise.
- Raw materials, parts and components that are going to be used entirely to integrate export merchandise.
- Bottles and packages.
- Labels and brochures.

2 years:
- Container and trailer boxes

For the validity of the program
- Machinery, equipment, tools, instruments, molds and spare parts for the production process.
- Equipment and devices for pollution control, research and others mentioned in article 108 of the Customs Law.
- Equipment for administrative development.

Categories of IMMEX program

There are 5 different types of IMMEX registrations:

IMMEX Holding Company Program:

Applies when the manufacturing operations of a certified company called holding company and one or more controlled companies are integrated into the same program.
IMMEX Industrial Program:

Applies when an industrial process of elaboration of transformation of merchandise destined for export is carried out.
IMMEX Services Program:

Applies when services are performed on export merchandise or export services are provided, solely for the development of activities that the Ministry of Economy determines
IMMEX Shelter Program:

Applies when one or more foreign companies provide the technology and productive material, without operating the program directly.
IMMEX Outsourcing Program:

Applies when are certified company that does not have facilities to carry out production processes, carries out manufacturing operations through third parties that it registers in its Program.

How to take advantage of the benefits of the IMMEX program in Mexico

The application of the IMMEX program is a complex process and contains several requirements that need to be fulfilled. Furthermore, to maintain the IMMEX program the company must comply with several reporting requirements among many other obligations such as maintaining an automated inventory control (Annex 24), maintain the goods at the addresses that are registered in the program, among others. Therefore, many foreign companies, partner with experienced partners such as a shelter service provider, like Mexcentrix, for a quicker and correct access to the benefits of the IMMEX Program.

Mexcentrix can support your company in the full process since the application of the IMMEX program and management of it, including filing required reports and fulfilling all obligations.

06Apr

Annual Report of Foreign Trade Operations

April 6, 2021 Michelle Jasso

In accordance with article 25 of the IMMEX Decree and article 8 of the PROSEC Decree, companies with an IMMEX and PROSEC program must present the Annual Report on Foreign Trade, with respect to total sales and exports (*), corresponding to the fiscal year immediately preceding fiscal, from April 1 and at the latest on the following dates:

Companies with PROSEC Program: No later than the last business day of April
Companies with IMMEX Program: No later than the last business day of May
Companies with both programs (PROSEC and IMMEX): No later than the last business day of April, since it is a single procedure for both programs.

* It must be verified that the IMMEX company complies with the obligation of the program to make annual sales abroad for a value greater than $ 500,000 USD, or its equivalent in national currency, or invoice exports, for at least 10% of its invoicing total.

Consequences in case of not presenting on time:

PROSEC:

If the annual report is not presented on the established date, the Program will be suspended until the omission is corrected.

If the report is not submitted by the last business day of June of the current year, the program will be canceled as of July 1, 2021.

IMMEX:

If the annual report is not presented on the established date, the Program will be suspended until the omission is corrected. It may be submitted until the last business day of August of the current year. During the suspension period of the IMMEX Program, the company will not be able to temporarily import merchandise or enjoy the other benefits of the Program.

In case of not presented on the established date the report, the IMMEX program will be definitively canceled as of September 1 of the current year. Derived from it, the company will have 60 calendar days to change the regime of temporary goods to definitive import or return them abroad.

Information needed for the presentation:

The Annual Report is presented through VUCEM, and the total sales for the year 2020 and the total commercial value exported in 2020 must be declared. If with the information presented the system verifies that the export commitments are not fulfilled, a start of the cancellation procedure for the IMMEX Program.

To present the report correctly, it is recommended to have the following information and documentation, among others:

Data Stage for fiscal year 2020
Annual Declaration for fiscal year 2020
Invoicing to assemblers and CTMS received.

You have doubts? At Mexcentrix we have experts in the area of Foreign Trade to advise you. Avoid the suspension and / or cancellation of your IMMEX program, and get advice from the experts.

30Mar

Wise Harness Solutions Expands into Emplame, Sonora, Mexico

March 30, 2021 Michelle Jasso

Since 1970, Weston, Wisconsin-based Wise Harness Solutions has assembled wire harnesses, battery cables and control panel assemblies to support its customers’ wire harness needs. The company prioritizes offering high-quality products, delivered on-time, at an excellent value and sees its expansion into Mexico as one more way to deliver upon this promise.

The decision to expand into Mexico came as Wise Harness Solutions executives sought a solution to the ongoing labor shortage plaguing manufacturers across the U.S. The company had found itself struggling to grow its Wisconsin workforce to support the demand from its customers. With more of its competitors moving into Mexico, the company recognized that the lack of a Mexican presence, combined with this workforce shortage, would make it more difficult to provide the highest quality products, on-time delivery, at the competitive price its customers expected.

Michaud adds, “We selected Empalme as the location for our new facility due to its proximity to the U.S. and the availability of an experienced workforce.” Empalme is a mere four-hour drive to the U.S. border. However, it’s location along the sea of Cortez, the second largest port on the Pacific Coast, provides manufacturers with additional options for cost-effectively reaching global customers in a timely manner.

The 25,000-square-foot facility will begin producing complex OEM vehicle wire harnesses, battery cables and control panels by early April 2021. Wise Harness executives expect that the additional capacity this facility affords will help the company to bid on more projects, allowing for additional expansion in product offerings over the next few years.

press_release_distribution_0480344_163010

Source: CISION PR Newswire

( https://www.prnewswire.com/news-releases/wise-harness-solutions-expands-into-emplame-sonora-mexico-301254507.html)

What is IMMEX?

Immex stands for the Maquiladora, Manufacturing and Export Services Industry.

Benefits of the IMMEX Program

Categories of IMMEX program

IMMEX Holding Company Program:

IMMEX Industrial Program:

IMMEX Services Program:

IMMEX Shelter Program:

IMMEX Outsourcing Program:

How to take advantage of the benefits of the IMMEX program in Mexico

Mexcentrix can support your company in the full process since the application of the IMMEX program and management of it, including filing required reports and fulfilling all obligations.