LG Mexicali, Monterrey and Reynosa merge
Tamaulipas
By Anayancy Ulloa
The world-renowned Korean company LG Electronics announced an ambitious project that it has in Mexico: the merger of the LG Mexicali and LG Monterrey operating plants to LG Electronics Reynosa.
It was at a meeting attended by Mr. Aiden Kim, CFO of LG Electronics in Reynosa; Carlos Alberto García González, Secretary of Economic Development of Tamaulipas; Astrid Salazar, director of investment promotion of Tamaulipas; and Aydeé González, director of Inversión Tamaulipas, who announced the news.
This project was previously analyzed by the parent company in Korea, based on the performance of the operating plants that LG has in this country and which are strategically located in Mexicali, Monterrey and Reynosa.
The decision made by the directors of LG Electronics for LG Electronics Reynosa to be the parent company of all operating plants in Mexico was with the purpose of increasing economic growth, better plant operation and administrative facilitation.
Walter Rico, legal representative and foreign trade manager of LG Electronics Reynosa, made the presentation of this merger at the meeting with guests of the Tamaulipas government, and in which Sergio Ramírez, administrative director; Gerardo Maciel, human resources manager; Raquel Gamboa, accounting manager; and Lizette Ramírez, head of the legal department.
Kim Soohyun explained that the merger decision was also addressed with the other LG plants in Mexico for a year, now there are four subsidiaries of this company in this country.
"After this merger that is contemplated to be completed in August 2021, we will be the parent plant of all subsidiaries, and with this we believe that we can have a greater impact on the local economy and Tamaulipas in the short term," explained the CFO for LG Electronics Reynosa.
He added that now as a parent subsidiary they also expect to be able to provide positive effects on their operations.
Carlos Alberto García González mentioned that the interest on the part of the Tamaulipas government is to improve the business climate year after year.
In addition, he said that this merger of LG Mexicali and Monterrey to LG Reynosa is thanks to the trust placed in Tamaulipas.
"We are proud that Tamaulipas is this year classified as the second best place for investment," said the state official.
ABOUT LG ELECTRONICS
LG Electronics Reynosa has more than 20 years of presence in this border city; It is in this location that they focus on the production of televisions with dimensions ranging from 55 to 88 inches; all with the best technology such as OLED, up to high definition.
On the other hand, in the operations plant in Mexicali they manufacture monitors and televisions with dimensions that go from 55 inches downwards; while at the Monterrey plant they manufacture refrigerators and stoves.
“All of this will be part of LG Reynosa,” highlighted Walter Rico.
