Thursday, June 13, 2024

Italian automotive company to invest US $54M in Querétaro plant

Italian automotive company EuroGroup Laminations announced Friday that it has inaugurated a new plant in Querétaro and will invest some 50 million Euros (US $54.8 million) in the facility.

“EuroGroup Laminations … strengthens its international presence and inaugurates a new production plant in Querétaro, the headquarters of Eurotranciatura Mexico, with a total investment to be carried out of approximately €50 million,” the Milan-based company said in a statement.

The new factory is located in the Querétaro Industrial Park, in the state capital. (PIQ)

The facility, which will supply engine parts to automakers, is located in the Querétaro Industrial Park in the state capital.

Eurotranciatura Mexico is the local subsidiary of EuroGroup Laminations, which describes itself as “a world leader in the design, manufacture and distribution of stators and rotors (motor cores), key components of electric motors and generators.”

Eurotranciatura now has three plants in the Querétaro Industrial Park.

“We are proud to inaugurate the new Mexican plant in Querétaro and thus strengthen our production capacity for the North American EV market for rapid growth to execute orders already received for over €3.5 billion to be delivered between 2024 and 2028,” said EuroGroup Laminations CEO Marco Arduini.

The opening of the new site comes as EuroGroup says they have more than €3.5 billion of orders for 2024. (EuroGroup/LinkedIn)

EuroGroup said that the new plant adds around 10,000 square meters to its production base in Mexico “to more than double the production capacity for the EV & automotive segment in the next two years.”

Among the company’s clients, Reuters reported, are Volkswagen, Renault, Ford, General Motors and an undisclosed United States-based manufacturer of electric vehicles.

In addition to Mexico, EuroGroup has plants in Italy, China, the United States and Tunisia.

It makes a range of non-automotive products in addition to motor cores, including HVAC (heating, ventilation and air conditioning) equipment, wind energy components and pumps.

In its statement, EuroGroup said that the new plant increases its production area in Querétaro by 43%.

“The new facilities have been built to the highest standards of innovation and sustainability, with a special focus on decarbonization, circular economy and education, capitalizing on the Group’s consolidated experience as a market leader,” it said.

“… The new Querétaro site enriches EuroGroup Laminations’ global production base … and will be central to the execution of the Group’s order book for the EV & automotive segment, which reached a record €6.4 billion in October 2023,” EuroGroup said.

“The expansion also testifies to the strategic nature of the North American region for the Group’s activities: in the first months of 2023, Eurotranciatura Mexico’s revenues amounted to €198 million, up 33% year-on-year.”

In a post on LinkedIn, Eurotranciatura said it was a “pleasure to announce we’ve inaugurated the [company’s] third plant … in Querétaro.”

“The new plant will be dedicated 100% to the automotive industry, so once again we’re betting on personnel from Querétaro to join our quest for excellence in this new era,” the company said.

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