ZURICH, Sept 28 (Reuters) - Swiss adhesives and construction chemicals group Sika is opening an automotive products factory in Mexico to supply the country’s booming car sector, it said on Friday.
The plant in Queretaro will manufacture sound-dampening treatments and car body parts, it said in a statement.
“The Mexican automotive market has grown by 25 percent in the last four years and an estimated four million vehicles will be produced in the country in 2018,” it said, adding that that Mexico would soon become the world’s sixth-largest car manufacturer, catching up with South Korea.
The news comes amid negotiations to revamp the North American Free Trade Agreement, which groups the United States, Mexico and Canada. Washington has already wrapped up a deal with Mexico and is due to publish the text on Friday.
Reporting by Michael Shields Editing by David Goodman