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Manufacturing in Mexico Conference Near-Shoring - Maquiladoras - Site Selection Las Vegas, Nevada May 19-20, 2011 Bellagio Why invest in Mexico: Importance and Performance of the Auto Parts Industry NATIONAL AUTOMOTIVE PARTS MANUFACTURERS ASSOCIATION IN MEXICO Mexico Overview • A free market economy in the trillion dollar class. • A mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. • Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. • Per capita income is roughly one-third that of the US. Source: The Wolrd Factbook, CIA Source: Promexico, SE Why Mexico According to the International Bank for Reconstruction and Development, compared to global good practice economy as well as selected economies: Mexico is ranked 35 out of 183 economies for Doing Business. Protecting Investors, Global Ranking 109 Doing Business 2011 Rank EaseofDoingBusiness StartingaBusiness DealingwithConstructionPermits RegisteringProperty GettingCredit ProtectingInvestors PayingTaxes TradingAcrossBorders EnforcingContracts ClosingaBusiness 35 67 22 105 46 44 107 58 81 23 Easy of doing Business, Global Rank 115 93 44 79 44 28 35 16 43 18 1 1 Source: Doing Business in Mexico, 2011, The Worls Bank 134 Why Mexico: changes to business regulation “Mexico launched an online one-stop shop for initiating business registration. Mexico improved construction permitting by merging and streamlining procedures related to zoning and utilities. Mexico increased taxes on companies by raising several tax rates, including the corporate income tax and the rate on cash deposits. At the same time, the administrative burden was reduced slightly with more options for online payment and increased use of accounting software.” Source: Doing Business in Mexico, 2011, The Worls Bank Presentation Structure 1. Importance of Auto and Auto Parts Sector in Mexico 1. Interdependence 2. Network of trade agreements 2. Terminal Industry 3. Auto Parts Industry 1. 2. 3. 4. 5. Trade Balance Production Value Employment Vehicle Park Demand Structure 4. INA’s Presentation The Mexican automotive industry • Historically, the automobile industry has been a strategic sector for development in Mexico. Its share in the national economy places it as the second most important industry in Mexico, only preceded by the oil industry. • With a vast infrastructure and over 1,250 auto parts companies, the Mexican automobile sector is the 9th largest vehicle producer in the world, and an important platform for manufacturing global products to the highest standards of quality and safety. Industrial Policy • The Mexican Government sees the new higher quality and ecological standards as a development opportunity. • To push impetus towards more added value activities (engineering, product design, testing and R&D), Mexican Government provides support to attract new investments and to facilitate operation of companies already established in the country. • High support for investment projects that promote innovation and technological development. • Mexico offers incentives, including job training and tax credits on R&D and innovation projects. Programs to support the Automotive Industry • Decree to support competitiveness of the automotive industry. – It grants benefits (customs, tariffs, government purchases) for the manufacturing of new light vehicles. • Fund to Support Micro, Small and Medium Enterprise (Fondo PyME). – Supports projects that promote the creation, development, consolidation and competitiveness of small and medium enterprises. Large companies that contribute directly or indirectly to these activities could also apply for benefits. • PROMEXICO Fund. – Has an active role attracting direct foreign investment by supporting projects that promote economic development. Importance of the automotive sector • The transportation equipment manufacturing accounted for 18% of manufacturing GDP • Employment generated by the auto industry represents 10% of manufacturing employment • The automotive sector exports represent 23% of total exports Design and Engineering Centers Design Center Number: 31 Academy / Research Institutes: 14 Enterprises: 17 Qualified workforce • Mexico has over 750 thousand engineering and technology students. • Every year, 90 thousand engineering and technology students graduate. • Mexican universities offer more than 900 graduate programs related to engineering and technology. Center for Automotive DesignModels, Mexicali,B.C Engineeringand Virtual Design Center, CuautitlánEdo de México TechnologyDevelopmentCenter and part design, Puebla, Pbla TestingCenter, Capuán, Michoacán Engineeringand Design Center, Toluca,Edo de México Engineeringand Design Center, Toluca,Edo de México TechnologyDevelopmentCenter and Lab EmissionsAnalysis,Toluca,Edo de México Source: INA with SE and AT Kearny Information TestingCenter (Lab. emissions testinglaboratory) Manzanillo,Colima Interdependency Through Value Added Chain NORTH AMERICA, EUROPE, ASIA, AUSTRALIA CHRYSLER, FORD, GM, TOYOTA, NISSAN, VW, HONDA, ETC SUPPLIERS TIER ONE (SYSTEME & ASSEMBLES) R BOSCH, DELPHI, MAGNA, CONTINENTAL, JOHNSON CONTROLS, ETC NEMAK, KUO, SAN LUIS RASSINI, METALSA, BOCAR, VITRO, CIFUNSA, OTHER SUPPLIERS & RAW MATERIALS (30,000 PARTS) FORGINGS,FOUNDRIES, PLASTICS, ETC STEELS, PLASTICS RESINS, COOPER, ALUMINUM & OTHER SERVICES & SUPPLIES Trade agreements network Mexico has preferential access to 12 free trade agreements with 44 countries with a population of over 1 billion people . 18 days 12 days 4 days 27 APPRI’s 12 FTA’s 6 ACE’s Foreign Trade • • • Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5%. Mexico has free trade agreements with over 50 countries including, Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan, putting more than 90% of Source: The Wolrd Factbook, CIA trade under free trade agreements. Automotive business opportunities in three continents (America, Europe, Asia). Mexico's competitive advantages: a skilled labor force, logistics, low country risk, business environment ALADI Ecuador ALADI Paraguay OMC ALADI Cuba ALADI Perú TLCAN EUA TLC CostaRica ALADI Uruguay TLC G3 TLC Colombia* Nicaragua GATT ALADI Chile APEC OCDE 1986 1992 1993 1994 1995 1998 ALADI Brasil TLC AELC ALADI Islandia MERCOSUR Liechtenstein Noruega Suiza ALADI Argentina TLC Israel TLC Chile TLC UE TLC TN Guatemala ALADI MERCOSUR TLC Urugay AAE Japón TLC Perú 1999 2000 2001 2002 2004 2005 2011 Source: SE Terminal industry NATIONAL AUTOMOTIVE PARTS MANUFACTURERS ASSOCIATION IN MEXICO 2009 global production In 2009, Mexico was the 10th place worldwide in production 2009PRODUCTION STATISTICS Rkg Country 1 China 2 Japan 3 United State 4 Germany 5 South Koea 6 Brazil 7 India 8 Spain 9 France 10 Mexico 11 Canada 12 Iran 13 UK 14 Thailand 15 Tchec Rep. 16 Polonia 17 Turkey 18 Italy 19 Russia 20 Belgium Total Cars 10,383,831 6,862,161 2,246,470 4,964,523 3,158,417 2,576,628 2,166,238 1,812,688 1,819,462 942,876 822,267 1,359,520 999,460 313,442 967,760 819,000 510,931 661,100 595,839 524,595 47,952,995 Comercial Total 3,407,163 13,790,994 1,072,355 7,934,516 3,462,382 5,708,852 245,334 5,209,857 354,509 3,512,926 605,989 3,182,617 466,456 2,632,694 Var% 48% -32% -34% -14% -8% -1% 13% Mkt Share 22.3% 12.9% 9.3% 8.4% 5.7% 5.2% 4.3% 357,390 2,170,078 -15% 228,196 2,047,658 -20% 618,176 1,561,052 -28% 668,365 1,490,632 -28% 35,901 1,395,421 10% 90,679 1,090,139 -34% 685,936 999,378 -28% 6,809 974,569 3% 65,133 884,133 -7% 358,674 869,605 -24% 182,139 843,239 -18% 126,592 722,431 -60% 12,510 537,354 -26% 13,761,694 61,714,689 -14% Fuente: OICA OICA Source: 3.5% 3.3% 2.5% 2.4% 2.3% 1.8% 1.6% 1.6% 1.4% 1.4% 1.4% 1.2% 0.9% 100% 2010 global production In 2010, Mexico is the 9th place worldwide in production and increased its share from 2.5% to 3%. 2010PROVISIONALPRODUCTION STATISTICS Rkg Country 1 China 2 Japan 3 USA 4 Germany 5 South Korea 6 Brazil 7 India 8 Spain 9 Mexico 10 France 11 Canada 12 Thailand 13 Iran 14 Russia 15 UK 16 Turkey 17 Czech Rep. 18 Poland 19 Italy 20 Argentina TOTAL Cars 13,897,083 8,307,382 2,731,105 5,552,409 3,866,206 2,828,273 2,814,584 1,913,513 1,390,163 1,922,339 968,860 554,387 1,367,014 1,208,362 1,270,444 603,394 1,069,518 785,000 573,169 508,401 58,264,344 Mkt Share Comercial Total Var% 23.5% 4,367,584 18,264,667 32.40% 12.4% 1,318,558 9,625,940 21.30% 10.0% 5,030,338 7,761,443 35.40% 7.6% 353,576 5,905,985 13.40% 5.5% 405,735 4,271,941 21.60% 4.7% 820,085 3,648,358 14.60% 4.6% 722,199 3,536,783 33.90% 3.1% 474,387 2,387,900 10.00% 3.0% 954,961 2,345,124 50.20% 2.9% 305,403 2,227,742 8.80% 2.7% 1,102,166 2,071,026 39.00% 2.1% 1,090,126 1,644,513 64.60% 2.1% 232,440 1,599,454 14.70% 1.8% 194,882 1,403,244 93.50% 1.8% 123,019 1,393,463 27.80% 1.4% 491,163 1,094,557 25.90% 1.4% 6,867 1,076,385 9.50% 1.1% 84,376 869,376 -1.10% 1.1% 284,190 857,359 1.70% 0.9% 208,139 716,540 39.70% 100% 19,345,557 77,609,901 26% Source: Fuente: OICA OICA Light vehicle production in Mexico DomesticMarket OEM Jan-dec 2009 Exports Jan-dec 2010 Change% Jan-dec 2009 Jan-dec 2010 Change% GeneralMotors 69,628 98,073 41% 280,906 461,277 64% Volkswagen 48,189 73,946 53% 272,051 361,031 33% Nissan 47,692 73,654 54% 227,473 344,675 52% 2,960 10,368 250% 231,370 383,281 66% Chrysler 22,629 27,052 20% 134,453 230,267 71% Honda 10,164 14,026 38% 37,564 40,975 9% Toyota TotalProduction 0 0 0% 42,696 54,278 27% 1,226,513 1,875,784 53% Ford Jan-dec 2009 201,262 Jan-dec 2010 297,119 GeneralMotors 350,534 559,350 60% Volkswagen 320,240 434,977 36% Nissan 275,165 418,329 52% Ford 234,330 393,649 68% Chrysler 157,082 257,319 64% Honda 47,728 55,001 15% Toyota 42,696 54,278 27% 1,427,775 2,172,903 52% OEM Total Total Change% 48% Source: INA with information provided by AMIA Heavy vehicle production in Mexico OEM Freightliner 2009 2010 Change % 24,933 43,705 75% 20,264 26,468 31% Kenworth 6,037 10,325 71% MB 2,918 2,970 2% Volvo 654 659 1% VW 958 651 -32% Isuzu 312 570 83% Hino 89 354 298% 240 339 41% 132 56,642 50 143 86,197 12 55 1 International Scania Dina TOTAL Omnibús Man 8% 52% -76% -98% Source: INA with information provided by ANPACT Light Vehicle Production - History & Forecast 3,500,000 130% Forecast The manufacture of vehicles has gone through several recessions, the deepest among them was in 1982-1983 and 2008-2009. In 2009, the automotive sector suffered a contraction of -29% in vehicle assembly, which was recovered in 2010 with a growth of 50%. It is expected that light vehicle production will remain constant in 2011, growing 5% in 2012 and 12% in 2013. 3,000,000 2,500,000 110% 90% 70% 2,000,000 50% 30% 1,500,000 10% 1,000,000 -10% 500,000 -30% Vehicle Production(Units) AnnualGrowth Rate 2016 2014 2012 2010 2008 2006 2004 2002 2000 1998 1996 1994 1992 1990 1988 1986 1984 1982 1980 1978 1976 1974 1972 1970 1968 1966 1964 1962 1960 1958 1956 1954 1952 -50% 1950 0 Source: INA with information provided by CIEMEX-WEFA, AMIA, ANPACT y CSM Auto Worldwide y Global Insight Auto parts industry NATIONAL AUTOMOTIVE PARTS MANUFACTURERS ASSOCIATION IN MEXICO Autoparts companies: global top 20 2009 World Ranking Company First by Country Country Country Company World Ranking 1 2 3 4 Denso Corp. Robert Bosch GmbH Aisin Seiki Co. Continental AG Japan Germany Japan Germany Japan Germany Canada S. Korea Denso Corp. Robert Bosch GmbH Magna International Inc. LG Chem Ltd. 1 2 5 6 5 6 7 8 9 Magna International Inc. LG Chem Ltd. Faurecia Johnson Controls Inc. Delphi Holding LLP Canada S. Korea France USA USA France USA Italy Sweden United Kingdom Faurecia Johnson Controls Inc. Magneti Marelli S.p.A. Autoliv Inc. GKN Driveline 7 8 24 28 53 10 ZF Friedrichshafen AG 11 TRW Automotive Inc. 12 Hyundai Mobis Germany USA Korea Mexico Switzerland Netherlands Nemak Honeywell Transportation Systems Royal Philips Electronics 63 69 75 13 Valeo SA 14 Toyota Boshoku Corp. France Japan 15 16 17 18 19 20 USA Japan Japan Germany Japan Germany Lear Corp. Yazaki Corp. Sumitomo Electric Industries Ltd. BASF SE Hitachi Automotive Systems Ltd. Benteler Automobiltechnik GmbH In Mexico are installed the most important companies worldwide Source: TOP 100 Global OEM parts Suppliers 2009, Ernst & Young, June 2010 Structure of automotive manufacturing FOREIGN COMPANIES NATIONAL COMPANIES 100% 70% 18 1,260 OEM 30% AUTO PART MANUFACTURER FIRST TIER PROVIDERS: 365 Source:SE,INEGI & INA 22 Mexican auto parts trade balance • Imports 2010: $27,821 million of usd • Exports 2010: $37,996 million of usd The trade balance remains in surplus. Mexico’s Partners: Exports Two major partners: - United States received 90% of exports - Canada received 4% USDMillion Rking Country 0 -- El Mundo-1 United States 2 Canada 3 Germany 5 Japan 4 Brazil 6 UK 7 China 8 Australia 9 Colombia 11 Thailand 12 Argentina 13 Guatemala 10 Spain 14 Venezuela 15 CostaRica 2010 2009 2008 $37,996.49 $26,012.76 $35,866.38 $34,151.04$23,519.92 $32,810.75 $1,354.83 $826.79 $761.46 $284.86 $208.98 $336.22 $264.14 $168.69 $218.09 $297.77 $168.64 $227.85 $166.62 $60.71 $99.37 - $183.55 $149.41 $165.33 - $166.90 $155.41 $234.03 - $91.27 $59.98 $72.05 $43.70 $16.57 $21.53 - $77.65 $30.72 $29.49 - $59.63 $47.66 $57.24 $42.40 $30.11 $72.75 - $65.48 $66.82 $78.38 - $47.23 $36.77 $42.52 Change % MktShare 2010-2009 2010-2008 2010 2009 2008 46% 6% 100.0% 100.0% 100.0% 45% 4% 89.9% 90.4% 91.5% 64% 78% 3.6% 3.2% 2.1% 36% -15% 0.7% 0.8% 0.9% 57% 21% 0.7% 0.6% 0.6% 77% 31% 0.8% 0.6% 0.6% 174% 68% 0.4% 0.2% 0.3% 23% 11% 0.5% 0.6% 0.5% 7% -29% 0.4% 0.6% 0.7% 52% 27% 0.2% 0.2% 0.2% 164% 103% 0.1% 0.1% 0.1% 153% 163% 0.2% 0.1% 0.1% 25% 4% 0.2% 0.2% 0.2% 41% -42% 0.1% 0.1% 0.2% -2% -16% 0.2% 0.3% 0.2% 28% 11% 0.1% 0.1% 0.1% Source: INA with World Trade Atlas information Mexico’s Partners: Imports U.S. provides 60% China 10% Japan 8% Canada and Germany 5% USDMillion Change % MktShare Rking Country 2010 2009 2008 2010-2009 2010-20082010 2009 2008 0 -- El Mundo-$27,821.40 $21,310.95 $28,447.37 31% -2% 100.0% 100.0% 100.0% 1 United States $15,660.57$11,071.39 $15,672.97 41% 0% 56.3% 52.0% 55.1% 2 China - $2,726.41 $2,203.88 $2,399.46 24% 14% 9.8% 10.3% 8.4% 3 Japan $2,289.58$1,807.31 $2,532.56 27% -10% 8.2% 8.5% 8.9% 5 Canada $1,433.44 $990.79 $1,110.26 45% 29% 5.2% 4.6% 3.9% 4 Germanu $1,287.33$1,840.99 $1,683.10 -30% -24% 4.6% 8.6% 5.9% 6 South Korea $880.41 $588.65 $834.70 50% 5% 3.2% 2.8% 2.9% 7 Brazil $726.90 $819.04 $1,153.55 -11% -37% 2.6% 3.8% 4.1% 8 Taiwan - $359.82 $249.91 $411.06 44% -12% 1.3% 1.2% 1.4% 9 Italy $222.10 $141.16 $236.84 57% -6% 0.8% 0.7% 0.8% 11 France $206.44 $151.05 $264.68 37% -22% 0.7% 0.7% 0.9% 12 Spain $189.72 $142.50 $251.91 33% -25% 0.7% 0.7% 0.9% 13 Thailand $188.09 $143.02 $210.04 32% -10% 0.7% 0.7% 0.7% 10 India $179.04 $100.19 $122.19 79% 47% 0.6% 0.5% 0.4% 14 UK $139.86$122.02 $202.39 15% -31% 0.5% 0.6% 0.7% 15 Malasia - $121.34 $70.13 $57.16 73% 112% 0.4% 0.3% 0.2% Source: INA with World Trade Atlas information United States Partners NAFTA is the principal a auto part supplier for the United States with almost 50%, Asia and Europe are the next Mexico remains the largest supplier with 31% of imports, will Canadian with 16%, Japan with 13% China to 11%, Germany with 7% and Brazil 1.4%. Mexico's participation has increased steadily while that of Canada and Japan has declined. China is the country whose penetration has grown considerably in the last 10 years Source:International Trade Administration 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2000 2001 2002 Mexico 2003 Canada 2004 2005 Japan 2006 China 2007 Germany 2008 Brazil 2009 2010 Employment in Automotive Parts Sector Employment in manufacturing grew 4.8% in . the last month of 2010 compared to the level of December 2009. 2008 (-9%). 531,543 jobs were reported Ii December 2010, representing 17% more than in December 2009 and 9% more than in December 2008. On average 501,024 jobs were created in 2010 to 441,098 in 2009 (+14%) and 549,096 in 2008 Source:INA with EIMA information,INEGI Automotive Parts Production Values $7,000,000 100% AutopartsValue Production (trimestral,thousandoifusd) $6,000,000 80% 60% $5,000,000 40% $4,000,000 $3,000,000 0% $2,000,000 -20% $1,000,000 -40% $- Source:INA with EIMA information,INEGI 3rotrim 10 1ertrim 10 3ertrim 09 1ertrim 09 3ertrim 08 1ertrim 08 3ertrim07 1ertrim 07 3ertrim 06 1ertrim 06 3ertrim 05 -60% 1ertrim 05 Fuente: INA con datos de EIMA, INEGI Cifrasdefinitivas 20% Automotive Parts Value Production by System After the crisis in 2009, the auto parts industry has recovered, exceeding 2008 levels by 6% and 2009 levels by 50% Value inThousands of Dollars Transmissions, Clutch and its Parts Engine Parts Electric Parts Gasoline Engines Carpets and Seats Suspension, Direction and its Parts Oil, Lubricants and Vehicle Liquids Stamped and its Parts Automotive Accessories and Parts Tires Vehicle Bodies Vehicle Rubber Products Brakes and its Parts Glass, Crystal and Windshields Cooling Other TOTAL Jan-Dec 2010 $9,416,729 $8,077,016 $7,715,261 $5,513,124 $4,840,733 $2,910,856 $2,360,634 $2,058,594 $1,992,908 $1,770,124 $1,389,420 $1,225,211 $1,033,997 $890,064 $236,123 $12,739,711 $61,975,611 Jan-Dec 2009 Jan-Dec 2008 $5,814,841 $4,764,627 $6,091,178 $3,865,059 $3,159,960 $1,928,587 $2,110,693 $1,321,928 $1,498,337 $1,393,334 $1,190,152 $858,244 $667,453 $676,394 $252,098 $5,634,156 $41,227,040 $7,140,616 $7,793,453 $8,911,336 $5,119,142 $4,532,546 $2,539,011 $2,541,770 $1,877,218 $2,521,448 $1,834,909 $2,173,405 $1,061,990 $1,236,496 $884,671 $358,193 $7,768,614 $58,294,816 Change (%) 10-09 Change (%) 10-08 62% 70% 27% 43% 53% 51% 12% 56% 33% 27% 17% 43% 55% 32% -6% 126% 50% 32% 4% -13% 8% 7% 15% -7% 10% -21% -4% -36% 15% -16% 1% -34% 64% 6% Source:INA with EIMA information,INEGI Automotive Parts Value Production Source:INA with EIMA information,INEGI Automotive Parts Demand Structure 2010 2009 2008 Auto parts Value Production Exports OEM Supplier 1st level - Tier 1 Aftermarket Domestic Market OEM Aftermarket $61.97 $37.99 $26.59 $7.60 $3.80 $23.98 $16.79 $7.19 $41.20 $26.01 $18.21 $5.20 $2.60 $15.70 $10.99 $4.71 $58.30 $35.90 $25.13 $7.18 $3.59 $22.40 $15.68 $6.72 Importaciones OEM Aftermarket $27.82 $19.47 $8.35 $21.31 $14.92 $6.39 $28.44 $19.91 $8.53 Total Demand $89.79 $62.51 $86.74 Billion of USD 100% 61% 39% Source: INA Vehicles on road in Mexico Nota:Las cifras no incluyen vehículos usados importados desde Estados Unidos y Canadá National market: 28 marks for light vehicles 12 brands of heavy vehicles More than 500 models Age Transportation Vehicles 16 year old is the average age 12 million vehicles on the road are over 16 years old Note:importof used vehicles include onlylegal vehicles for definitive use Range of Age Vehicles Sold New Imported used from U.S. and Canada Figuresin millions of units Total % of vehicle (millions of per range units 10 years 11.1 (46%) 2.5 (42%) 13.6 45% 11-15 years 2.4 (10%) 1.8 (30%) 4.2 14% 16-20 years 3.1 (13%) 1.5 (26%) 4.6 14% 21-30 years 4.1 (17%) 0.1 (2%) 4.2 15% 31 and more 3.7 (15%) 0.01 (0%) 3.7 12% 24.5 (100%) 6 (100%) 30.3 100% Total Source: INA with information provided by AMIA, ANPACT and SAT Objectives Strengthen the domestic market as well as the export market • Renewal of vehicles • Investment attraction • Free Trade Agreements Developing Innovation and Technology • Systems and Components • Vehicles Be a Global Manufacturing Center • Geographic Location • Automotive Manufacturing Experience • Real competitiveness • Supplier Development Mission of the Association Development and Competitiveness Synergy and Profitability Representativeness INDUSTRIANACIONAL DEAUTOPARTES, A.C. Vision of the Association Strategic Well Known Vision Competitiveness Alliances Relationships Academy Government • National • International • Federal • Local House of Representatives Industry • Senators • Deputies • • • • OEM´S Autoparts Clústers Others NATIONAL AUTOMOTIVE PARTS MANUFACTURERS ASSOCIATION IN MEXICO Special Events Thank you!! www.ina.org.mx www.ciiam.com www.expoina.mx www.electraton.com.mx E- mail: [email protected] Phone: (+52 55) 5682 58 62 Comptroller: Ext. 106 Economic Studies: Ext.120 Foreign Trade and Norms: Ext.124 Special Events and Member Support: Ext.118 NATIONAL AUTOMOTIVE PARTS MANUFACTURERS ASSOCIATION IN MEXICO 38 Manufacturing in Mexico Conference Near-Shoring - Maquiladoras - Site Selection Las Vegas, Nevada May 19-20, 2011 Bellagio