Targeting North and Latin America, Daewoo Electronics plans to beef up production capacity of its consumer electronics appliances plant in Mexico by double by next year.
Daewoo Electronics said yesterday that it would expand monthly production capacity of its plant in Mexico `DEHAMEX` from the present 700,000 units to 1.4 million units by 2005, investing 20 million dollars. In Mexico, the company is manufacturing so-called white consumer electronics apparatuses, such as TVs, VCRs, refrigerators, washers, and microwave ovens.
The company also plans to increase the proportion of high performance white consumer electronics gadgets, while raising the percentage of exports to North and Latin America from the current 15% of its total exports to 30% by 2006.
"To augment our presence in the consumer electronics appliances market in North and Latin America, the company will bolster its operations in Mexico. And it will foster the plant in Mexico as one of global strongholds along with those in Poland, England, Vietnam and Korea," said Kim Chung-hun, CEO of Daewoo Electronics.
Daewoo Electronics, which posted 180 million dollars in sales in Mexico last year, aims to raise 15% in revenue this year in that market from a year earlier.