The Company

On January 2007, PWO AG acquired a 60% interest in Cartec S.A. de C.V., an automotive supplier located in Puebla, south-east of Mexico City. Cartec?s customer base includes a number of long-term supply agreements with the subsidiaries of leading European and US automobile manufacturers and with other well-known Tier 1 industry suppliers. At the beginning of the 2007 financial year, the company was consolidated in the PWO Group. In April 2008, the full takeover has been effected. The company has traded as PWO de México S.A. de C.V. since December 2008.

PWO de México's on-site production equipment includes 25 stamping and forming presses. Capacity reserves are existing. Production and tool construction are led by managers with considerable international experience. PWO de México  produces metal components and structures for bodywork and chassis. It's portfolio provides an ideal complement to PWO's own product range for the North American market and the PWO location in Kitchener, Canada. As well as bringing its own established customer base, PWO de México offers PWO an opening into the attractive and fast-growing automobile market in the southern NAFTA zone. It also allows PWO to support those of its existing customers who have established production facilities in Mexico and strengthens the competitiveness of PWO in the NAFTA zone in the case of more wage-intensive orders.

A consistent expansion is planned for the next years.

Data and facts

• Takeover by PWO
  2007: 60% of the shares
  2008: Takeover of the remaining shares
  (99% PWO AG, 1% PWO Canada Inc.)
• Management
  Tim Werding
• Sales 2009
  EUR 14 million
• Employees as at 31/12/2009
  279  

For more information please see: www.cartecsa.com.mx