Rubber and plastics injection molder Woco Tech has invested $12 million in its Querétaro, Mexico manufacturing site and is considering a second Mexican plant to help it satisfy growing local demand from customers like Volkswagen, BMW, and Ford.
Hans Jürgen Kracht, CEO of Germany-based parent company, Woco Group, attended an opening celebration in late August, which included Querétaro's governor, José Calzada. The company expanded its Querétaro operation by 15,000 sq ft, and over the next four years, it is planning to invest an additional $18 million to add machinery and equipment.
Forecast 2016 sales at the Querétaro plant are predicted to represent more than 15% of Woco's worldwide turnover. The growing importance of the market has the company considering medium-term plans to open a second plant in Mexico. In a release, officials said a decision on the location of the second plant will be made in the next 18 months....