LGMG inaugurates its first plant in Nuevo Leon
MARIN, NL – The Chinese company LGMG (Lingong Machinery Group) today inaugurated its first production plant in Mexico, located in the municipality of Marín, Nuevo León.
The plant, which required an investment of US$140 million, will generate up to 7,000 jobs in the region. In its first stage, the factory will produce scissor lifts and electric articulated lifts, with a production capacity of 20,000 units per year.
The inauguration of the plant was led by the governor of Nuevo León, Samuel García, who highlighted that the investment is part of a US$5 billion commitment that Chinese companies are contemplating for the state in the coming years.
“This is the first step, these are the first US$200 million for the first factory of many to come in this joint announcement of US$5 billion in first level Chinese companies such as LGMG,” said Garcia.
The state governor also highlighted that LGMG’s investment will help Nuevo Leon catapult 76% of Mexico’s nearshoring.
“Nuevo León is catapulting 76% of Mexico’s nearshoring. US$900 billion that were outside of Mexico and have decided to come here to Nuevo Leon,” he said.
The president of LGMG, Yu Mengsheng, thanked the government of Nuevo León for its support for the installation of the plant.
“We are very happy to be here in Nuevo León, a state with a dynamic economy and a government that promotes foreign investment,” Mengsheng said.
LGMG’s plant in Nuevo León is the first of several plants the company plans to build in Mexico.
