With an investment of more than 40 million dollars, the American company FreightCar America (FCA) and the Mexican Fabricaciones y Servicios de Mexico (Fasemex) placed the foundation stone of their new plant in Castanos in the state of Coahuila.
According to FCA, the new factory is anticipated to start producing railroad wagons, tank-cars, pipe trucks and towing by mid-2020 and that generates about 1,400 jobs.
Previously, the American company FCA announced that the integration of a joint company with Fasemex, Mexican firm with operations in Mexico as well as in the United States, to manufacture wagons in Castanos.
Jim Meyer, president and general director of FreightCar America, said that being again the suitable cost structure is important for the strategy of “back to basics.”
“We are making great progress in our efforts of costs reduction and, now, with the incorporation of this association in Castanos, we will be more competitive in certain types of railroad wagons that were not economically viable before,” he referred.
Meanwhile, Jesus Gil Benavides, president of the Fasemex Council, said that they are happy with the association.
“We are excited about the growth this represents for our company. We have to spend more than one year working for this moment and we are optimistic about our future together,” he underlined.
During the placement of the foundation stone event, Miguel Angel Riquelme Solis, governor of the entity, said that an investment of this magnitude strengthens and positions Coahuila within the international scope.
“This is a date to remember, for the work Fasemex generates in the central region and Coahuila, a number of jobs benefiting this area of the state, with a qualified workforce,” he noted.
Finally, Jaime Guerra Perez, secretary of Economy, said that national and foreign investments are encouraged in the state in all sectors, favoring the development of companies like Fasemex which has about 23 years of experience.