Chinese company Xuzhou BUT is investing $20M USD in Monterrey, Mexico
Monterrey has quickly become the favorite destination for Chinese investments in Mexico
The Chinese company Xuzhou BUT Construction Machinery just cut the ribbon for its new $8 million dollars manufacturing facility at Roca Desarrollo’s Monterrey Industrial Park and announced another $12 million dollars expansion that will be ready in 2023, creating more than 300 job opportunities.
The event was led by Iván Rivas, Secretary of Economy of Nuevo Leon, Edward Gao, Chairman of the Board at BUT Group, and Hernán Montemayor, CEO of Roca Desarrollos.
The 18,000 m2 facility is BUT’s second one in North America and their first one in Monterrey. This project has created more than 140 new jobs already in its first phase.
BUT will manufacture construction machinery and equipment such as excavator parts and hydraulic grapples, among other products, to supply the North American market.
“We are happy to witness another step in the growth of your company and we appreciate your decision to take this step in Nuevo Leon,” said Secretary Rivas during the event.
From October of last year to July 2022, 85 investment projects have been confirmed in the state, 18 of which are from Chinese companies, representing 21% of the total.
Xuzhou BUT adds to the growing list of more than 40 Chinese companies operating successfully in Monterrey, among them Hisense, Lenovo, Kuka Home, Didi, Sunon, Wolong, and Broad Ocean.