Top 5 Mexican Companies in Canada
Top 5 Mexican Companies in Canada
Mexican companies are not unfamiliar with the concept of productive investment in Canada, that besides having interest in the market, they also get advantages from the legal security, low taxes and stability that Canada offers.
Canada has one of the most generous fiscal stimuli programs in matters of investigation and development of the industrialized world. Moreover, the country is expected to be the best country of the group of 7 (G7) countries for business in 2014-2015, according to The Economist Intelligence Unit (EIU).
ProMexico affirms that the main Mexican companies in Canada are the Industrial Group Alfa, Modelo Group, Mexico Group, CH Industries and Eumex.
However since mid 2013, the brewery Modelo stopped being a company of Mexican capital when it was bought by the Belgian company Anheuser-Busch InBev (AB- InBev). In contrast to that a few months ago, the bakery group Bimbo, bought the Canadian Canada Bread, for 1.66 Billion USD.
Industrial Group Alfa
The division of car parts of the group from Monterrey, Nemak, has its engine manufacturing production site in Windsor, Ontario.
Nemak has factories in 15 countries, among them Canada, and is responsible for about 28 percent of Alfa's revenues, company which recently reported a 10 percent increase in their sales, with a total of 2.406 Billion USD.
A few days ago, the main producer of aluminium components for the Mexican car industry, announced that it will invest 200 million US Dollars in the creation of two new factories which will produce structural blocks, engine blocks and transmission components, using High Pressure Casting (HPSC), one of the factories will be in Mexico and the other one in the U.S., Said Armando Tamez director of that Alfa's division.
Last year the leading bakery in Mexico and Latin America, bought the Canada Bread Company, Limited (Canada Bread) for 1.666 millions of US Dollars. The new purchase will give Bimbo about 25 manufacturing factories in Canada, the United States and the United Kingdom, and 5,450 employees.
Mexican stock analysts predict that this business deal could start to contribute with around an 11% of sales and 14% of the EBITDA at Bimbo, in an annual basis.
It is the biggest mining group in Mexico and it actively participates in North America through its subsidiaries Southern Copper Corporation and ASARCO. ProMexico informed that the company actively participates in Canada’s mining exploration.
The Mexican mining group, is one of the main world wide producers of copper.
CH Industries is a company that manufactures products made of steel and has factories in Mexico, the United States and Canada, in the city of Hamilton, Ontario. Its main lines of production are: special steel, welded pipes, trade profiles, structural sections and rod.
The company produces for the automotive, construction, mining, energy, manufacturing of hand tools, construction equipment, and the aero spacial industries, among others.
In 2001, CH Industries bought 82.5% of the stocks of the Simec Group. In 2005 CHI and Simec Group bought Republic Engineered Products Inc. -currently Republic Steel-. leading company in the market of special steel in the US and owner of five factories in the US and one more in Canada, in Hamilton, Ontario.
Urban Equipments of Mexico (Eumex for its abbreviation in Spanish), leads one of the main business groups in the field of outdoor advertising in the American continent, through urban equipment. It participates in more than 47 cities of Latin America and through Eucan, Urban Equipment of Canada in three Canadian cities.
In 2003 the group Eumex bought concessions granted until these days from the Canadian group OMG for recycling of rubbish, known until today as Eucan.