The German auto parts firm Continental announced Thursday that it will invest 210 million euros (about 209.5 million dollars) to expand its operation in central Mexico, by expanding one plant and building another.
Continental said in a statement that it plans to increase the production floor, warehouses and offices of the Las Colinas plant, in the state of Guanajuato, by more than 7,500 square meters (m2), which currently has 16,500 square meters and is dedicated to manufacturing servo brakes and engine brakes.
In the same industrial park, the company will build a 12,600-square-meter plant to manufacture high-tech electronic products such as brake units and suspension systems. Both projects are 75% complete.
With the investment, Continental said it expects to generate 1,500 jobs in the next three years, which would be added to the nearly 20,000 current employees spread over 12 states in the Latin American country.
