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Article: Meanwhile...South of the border ; Mexican industry struggles.
- Article from:
- Tire Business
- Article date:
- August 27, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Mexican tire industry is in a state of flux, with most of the major players closing plants or instituting other cost-cutting measures and imports playing a larger role.
Goodyear and Michelin North America Inc. closed their Mexican factories within the past year, citing slowing economic factors and rising costs in various areas including labor, raw materials and energy. In addition, both Bridgestone/Firestone Inc. and Continental A.G. are negotiating changes at their operations to trim costs.
One factor affecting all industry has been the Mexican economy. A strong peso makes it difficult to export and attractive to import, said Francisco Martha, ...