Week #22

Invest Monterrey wraps up a successful participation at Hannover Messe 2022

Invest Monterrey participated in the world’s leading trade show for industrial technology, as part of a triple-helix delegation headed by the Secretary of Economy, Iván Rivas. Dozens of business meetings were held with transnational companies, chambers of commerce, educational institutions, public sector representatives, and international organizations. The delegation successfully created awareness of Monterrey as one of the best destinations for investing and doing business in North America. The delegation teamed up with Jalisco, Aguascalientes, Querétaro and Puebla to promote Mexico, and included the participation of Invest Monterrey’s partners like Prodensa, American Industries, Finsa, RMSG, Citius AG, UANL, CLAUT, and NL 4.0.?

Siemens to invest $35 million USD to expand operations in Monterrey

At Hannover Messe 2022 Nuevo Leon's Secretary of Economy, Iván Rivas, and Alejandro Preinfalk, CEO of Siemens Mexico, announced a $35 million USD investment to expand the company’s operations in Monterrey. The ‘Mitras Project’ will create 450 new jobs in Siemens’ largest facilities in Mexico.?

Invest Monterrey held a Business Seminar in Stuttgart, Germany

As part of a business mission held last week in Germany, Invest Monterrey, alongside the Ministry of Economy NL, the Mexican Embassy to Germany, Deloitte and other partners, held a business seminar in Stuttgart, the capital of the State of Baden-Württemberg, to promote Monterrey I Nuevo Leon as a top investment destination among German companies interested in expanding operations to North America. The companies were able to hear information from experts in fields like real estate, taxes, and labor, represented by Citius AG, RMSG, Deloitte, American Industries, Prodensa, Zeitgeist, and TMH.?

German company Kern Liebers announces expansion in Monterrey

Kern Liebers, global technology leader in the production of high precision metal parts, announced an investment to expand its current operations in Monterrey. With this project the company will be reaching a total of more than $7 million USD in investments since they arrived to Monterrey and 450 jobs.?

Kern Liebers is considered a ‘hidden champion’, term used in Germany to describe medium-sized companies that are highly specialized world-market leaders with a low level of public awareness. According to Professor Hermann Simon there are 1,300 ‘hidden champions’ in Germany, which is almost half of the ones worldwide.?

Source:?Ministry of Economy

Nowports is Monterrey’s new unicorn?

Logistics startup from Monterrey, Nowports, reached a $1.1 billion USD valuation after a recent investment round led by SoftBank's Latin America Fund.?

Nowports, which operates as a digital cargo agent and aims to simplify international trade, plans to use the capital for its planned expansion in Latin America at a time when markets are still grappling with supply-chain disruptions and currency volatility due to the coronavirus pandemic and the war in Ukraine.?

Source:?El Espa?ol

Mexican soonicorns

There are roughly 30 companies in Mexico that are on the verge of becoming new unicorns, sometimes known as 'soonicorns.' GBM, Bitso, Clara, Clip, Konfo, Incode, Kavak, Merama, and Jeeves are among the nine Mexican companies with unicorn valuations, and it is expected that at least another three dozen will do so in the next few years.?

Source:?El Norte

Unemployment has dropped to its lowest level in over 17 years in Mexico

In April, the country's unemployment rate dropped 0.30 percentage points to 3.09% of the Economically Active Population, the lowest level in 17 years. The unemployed population includes those who are not currently working but are seeking for work, which totaled 1,804,352 people in April, an annual decrease of 871,911.?

Source:?El Norte

The first International Congress on Aerospace and Advanced Manufacturing was held in Monterrey

The Monterrey Aerocluster launched its Aerospace & Advanced Manufacturing Congress, which was held in the Mexican Baseball Hall of Fame. The two-day event has a program full of expert keynotes, discussion panels, and networking sessions. Companies that participated in the event included FRISA, United Airlines, GE Aviation, and Honeywell.?

Source:?Mexico Industry