Mexico
Ka Shui said the purchase will help it "hedge risk," and called it "an important step for the group to expand its new business in America in future."
Kicks production in Mexico is now scheduled to begin in June, sources say.
Full-service, closed-loop recycler Polyfit US Inc. brought a $7 million-plus plant in Tecate, in northwestern Mexico, on stream this month.
Peruvian flexible film supplier Oben Holding Group has acquired Mexican manufacturer KristaFilms SA de CV from Mexico's Grupo Agusa in a move aimed at satisfying growing demand for its products and services in North America.
Aurora, Ontario-based Axiom Group is investing $12 million in a new 80,000-square-foot building next to its existing facility in Mexico.
The first presses have been sold to customers in Latin America. Machines for the U.S. market will be ready to ship in late 2023 or early 2024.
Coca-Cola bottlers and other associated companies will invest $14.8 million in Mexico this year to increase PET waste collection and recycling capacity.
Partners in the Enval Ltd. plant aim to process 6,000 metric tons of flexible packaging in the plant's first year of operations.
Swedish compounder Polykemi AB opened a sales subsidiary in Mexico March 1, describing the move as a "natural step in the globalization of the company."
The location in Matamoros had been slated to close.
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