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Mexico's Superior Manufacturing Services Spur Plants to Ramp Up Production - The number of companies that will utilize Mexico's high-quality, low-cost manufacturing services in the next few years is expected to increase substantially, according to a study - MFIintl.com
Mexico's Superior Manufacturing Services Spur Plants to Ramp Up Production

 

PRZOOM - /newswire/ - El Paso, TX, United States, 2013/07/23 - The number of companies that will utilize Mexico's high-quality, low-cost manufacturing services in the next few years is expected to increase substantially, according to a study - MFIintl.com.

   
 
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Mexico's increasing competitiveness is expected to be a boon to those companies, including American companies that design the original product and their contract manufacturers the companies that manufacture the American companies’ products in Mexico.

Contract manufacturers like MFI International are expanding their production facilities because so many American companies are taking advantage of Mexico’s superior manufacturing services. MFI currently manufactures consumer products, electronics, furniture, mattress soft goods (mattress covers), medical devices, and equipment for the military and first responders, pet products, specialty apparel and specialty seating. Its new clients will allow it to manufacture casket products for the U.S. market at its plant in Mexico.

"Our clients typically experience cost savings equivalent to $1 million per year per every 50 employees when they move their operation from the U.S. to Mexico," said Fatih Akben, MFI's Director of New Business Development.

The study by The Boston Consulting Group (BCG) projects that “global companies are expected to continue moving production to Mexico” because its average manufacturing costs are declining in comparison to other nations. In 2000, Mexican labor costs were 58 percent higher than China’s labor costs, but they are projected to be 19 percent lower by 2015. Overall manufacturing costs in Mexico in 2015 are projected to be 6 percent lower in Mexico than in China and 20 to 30 percent lower in Mexico than Belgium, Germany, Italy and Japan.

The lower manufacturing costs and lower energy costs “are expected to propel Mexican manufacturing exports” by $20 billion to $60 billion annually within five years, according to BCG’s June 28 press release. American companies that hire contract manufacturers like MFI to manufacture many of their products’ components in Mexico are expected to benefit tremendously from this export boom, MFI can help companies bring their products to market expeditiously and inexpensively thanks to Mexico's high-quality labor force and the manufacturing plant's proximity to the U.S.

“Mexico is in a strong position to be a significant winner from shifts in the global economy,” BCG senior partner Harold L. Sirkin said. “That is good news not only for Mexico, which relies on exports for around one-third of its GDP. It’s also good for America, since products made in Mexico contain four times as many U.S.-made parts, on average, as those made in China.”

Mexico also has more free-trade agreements than any other nation -- 44. That reduces companies' tariffs.

About MFI International

For over 30 years, MFI International (mfiintl.com) has developed itself into a leading provider of cost-efficient and flexible manufacturing services in the Juarez, Mexico region. With a truly bi-cultural management staff that has extensive experience in both US and Mexican operations in a wide variety of manufacturing sectors, MFI offers complete package solutions through its two divisions, contract assembly and shelter manufacturing support ("shelter services"), across a wide variety of industries including the Medical, Casket, Consumer Electronics, and Home Furnishing and Automotive industries.

 
 
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Agency / Source: MFI International

 
 

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Mexico's Superior Manufacturing Services Spur Plants to Ramp Up Production

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Contact: Paola Ramos - MFIintl.com 
915-858-0971 paola.ramos[.]mfiintl.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any MFI International securities in any jurisdiction including any other companies listed or named in this release.

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