Chinese LGMG celebrates groundbreaking ceremony in Monterrey
Monterrey keeps establishing itself as one of the favorite destinations in North America for companies relocating operations from Asia.
The Chinese leader in the heavy construction machinery industry, China Lingong Machinery Group (LGMG), held a groundbreaking ceremony for its new manufacturing facility in Roots Industrial Park in Monterrey, Nuevo Leon, Mexico.
The $140 million USD project is destined to produce industrial electric articulating boom lifts, which will be mainly exported to the United States and Canada. LGMG will be creating more than 1,400 jobs with this project.
On the original announcement of this investment back in July, Iván Rivas, Minister of Economy of Nuevo Leon, mentioned that “We are a state with a vision for the future and we are looking for projects that promote and strengthen our development. Companies need the government to be an ally, a facilitator, and not an obstacle.”
“We believe that by working together we will accelerate the production of the plant in Mexico and thus promote the expansion and optimization of the industrial chain in Mexico, strengthening local industry and businesses,” said Yu Mengsheng, president of LGMG Group.
He also shared that they have the objective of encouraging more Asian companies in the LGMG supply chain to invest in Monterrey, while also finding local suppliers.
The group is made up of three companies: Shandong Lingong Construction Machinery Co., Ltd. (SDLG), Lingong Group Jinan Heavy Machinery Co., Ltd. (LGMG), and Lingong Special Machinery Co., Ltd. Its activities cover five areas: machinery construction, mining machinery, aerial work platforms, special machinery, and component manufacturing.
According to company data, Lingong Machinery Group is one of the leading construction machinery manufacturers, one of the top 100 enterprises in the machinery industry, and one of the three largest groups in the construction machinery industry in China.
Monterrey is the favorite destination for Chinese companies establishing operations in Mexico, with 32 projects announced since 2021.