Asian manufacturer Man Wah invests US$100M in Monterrey, Mexico
Man Wah Holdings announced that they acquired land in the Hofusan Industrial Park, located in Monterrey, where the upholstery facility will be set up.
Ivan Rivas, Nuevo Leon’s Secretary of Economy confirmed the arrival of the company to the state and the investment amount of US$100 M.
This amount contemplates a vertical operation in a facility of 2.5 million ft² that will produce materials from foam to components such as frames and mechanisms.
The Home News Now site described that the facility’s construction will begin next week and will be achieved in two phases. During the first phase, Man Wah will employ 4,000 people and its production capacity will allow it to produce up to 1,500 containers per month. The second phase, planned to be ready in 2023, will reach 3,500 containers.
“The board of directors believes that the main purpose of the project is to mitigate the risk of fluctuations in global ocean freight rates, reduce associated logistics costs, expand and meet the needs of the North American market.”
Man Wah Holdings is one of the most globalized companies with sales in more than 100 countries, including the United States, and is ranked among the top 10 furniture manufacturers worldwide.
“Man Wah Mexico is part of the overall plan to expand Man Wah Holdings Global Manufacturing footprint. While today we are excited to expand our manufacturing base into Mexico” Zoe Wong, Executive Director of Man Wah Holdings added.