© yuri arcurs dreamstime.com Electronics Production | July 06, 2020
Advantech and Interlatin to set up JV in Mexico
Industrial IoT specialist, Advantech, says it is establishing a joint venture subsidiary in Mexico with its channel partner Interlatin.
Advantech and Interlatin will hold 60% and 40% stakes respectively of the new subsidiary. The joint venture will be effective from July 1, 2020 and new offices will be set up in Guadalajara and Mexico City. “As an open market, Mexico joined the Asia-Pacific Economic Cooperation (APEC) forum in 1993 and in recent years Mexico has signed free trade agreements with several countries and benefits from the US-Mexico tariff preference, which encourages the establishment of manufacturing centers for many corporations. The trend of setting up manufacturing centers has led to business opportunities for smart manufacturing, Industry 4.0, and digital transformation. What’s more, due to the advantage of a common language, Mexico has become Advantech’s best springboard for entering Latin American markets.” says Mr. Vincent Chang, Senior Director and Sales General Manager of AIntercon region, Industrial IoT Group of Advantech in a press release. Vincent Chang further explained that Advantech chose Interlatin as its joint venture partner due to several reasons. “We hope to largely expand our businesses in Mexico by benefiting from Interlatin’s local connections and resources, and its knowledge of electronic manufacturing, automotive, and transportation systems, as well as its extensive experience in serving big local customers and large projects.” Mr. Alejandro Carrillo, CEO of Interlatin, has also commented on this joint venture. “Interlatin has been Advantech’s channel partner since 2010 and has a long dedicated track record in industrial automation in Mexico. Due to the rise of IoT in recent years, Interlatin proactively helps customers to expand their Industry 4.0 and digital transformation businesses, which echoes with Advantech’s strategies and therefore, we decided to further cooperate with them.”