Which Latin American country has “recovered strongly” from the financial crisis and now “looks a better bet than Brazil for rapid economic growth,” according to The Economist magazine?
Mexico, and companies doing business there can back up the sentiment. “I go through the macro picture and for me it’s more of a question what’s not to like about Mexico,” say GE Vice Chairman John Rice. Just in July, GE received orders for advanced manufactured products valued at $2.7 billion. They include a $2.25 billion order from Mexico’s flag carrier Aeroméxico for the innovative LEAP jet engines that are being developed by CFM, a joint-venture between GE Aviation and France’s Snecma, and a separate order from the same airline for GE’s next-generation GEnx engines that power Boeing’s 787 Dreamliner aircraft. GE Energy’s powerful aeroderivative turbines will generate electricity for the country’s growing chemical industry, and GE will turbines will produce renewable power for the municipality of Santa Catarina in the State of Nuevo León.
This is good news for U.S. jobs. American workers at GE plants Cincinnati, Ohio, Wilmington, North Carolina, and Batesville, Alabama manufacture and assemble key components of the LEAP and GEnx engines. GE workers in Houston, Texas, assemble aeroderivative turbines from components made across the U.S.
Mexico is “a well-run country,” Rice says. “We think that there is a lot of opportunity, whether it is rail or aviation or expanding affordable healthcare to all citizens, we think that there is a population that wants the kind of products and technologies that we deliver.”