The aerospace industry projects growth of 12.8% in Mexico

The aerospace industry projects growth of 12.8%
19/05/2011 20:17
According to estimates Mexican Federation of Aerospace Industries (FMIA), companies in the aerospace industry in Mexico project to export manufactures for nearly $3.950 billion dollars at the end of 2011, 12.8% increase over the $3.5 billion dollars shipped last year.
Carlos Bello Roch, general director said that exports of this industry have a 20% annual growth since 2002. In that year, the figure stood at $1.266 billion dollars. If these projections are concreted during this year, shipments to foreign markets will grow 212%.
'Mexico is a major supplier to the U.S. and European countries. In shipments to the U.S. we are within the 10 largest suppliers and in Europe we are in eighth place,” said Bello Roch.
Aerospace industry currently employs 29,000 people in Mexico, a figure that will rise to about 40,000 workers, as they are projected to move from 238 companies in the industry to 350 companies over a period of 5 years and achieve levels of exports of $7.5 billion dollars.
FMIA general director noted that also seeks to increase local content for suppliers up to 30% over the same period.
'In Mexico we must attract suppliers, because we do not produce aluminum, titanium, specialty chemicals and carbon fiber. To manufacture many of the parts we have to import raw materials. What we want is to establish joint ventures with companies that are in Mexico to meet those needs', said the director general of the FMIA.
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