France to invest 200M for aerospace development in Mexico

More than 20 Small and medium-sized French companies maintain their commitment towards the aerospace industry in Mexico and are expected to invest up to 200 million dollars in the medium term.

"An investment of this size is expected in the medium term,” commented Guillermo Garza García, commercial counselor of ProMéxico in Paris , France , noting that since last Monday , representatives of 24 French companies arrived in our country.

Among the companies are Airbus Helicopters, Cefival, Coriolis Composites Technologies, Emitech, Roxel, Safran Spema, and Zodiac Aerospace , he said.

Garza García indicated that the businessmen will meet with representatives of state governments and will visit various plants, training centers and clusters of the aerospace sector in Mexico City, Queretaro and Chihuahua , in order to generate new bilateral business opportunities.

In an interview with Notimex , he claimed that this sector continues to be one of the most dynamic and attractive in the world, since it has shown an average annual growth rate of close to 14 percent during the last 10 years .

According to ProMéxico , the aerospace industry has attracted more than two thousand 500 million dollars in Foreign Direct Investment (FDI) between 2007 and 2017 and is expected to reach two thousand 900 million dollars in 2020 .

Furthermore, it is estimated that Mexico will rank among the ten leading components exporters in the aerospace industry by 2025 .

Garza García pointed out that there has been significant progress in infrastructure, processes, and standards, which are key to driving the three axes (machining, composite materials, and design) in which they will be working with French companies.

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