Phillips Industries expands its plant in Coahuila

Phillips Industries, a US-based manufacturer of components and solutions for the tractor-trailer industry, inaugurated the expansion of its plant in the submarket of Arteaga, Coahuila on Wednesday. The $35 million investment has added 140,000 square meters to its facilities, which will focus on producing sensors and telematics access. The expansion is estimated to generate 1.6 thousand jobs this year, according to the company.

Executives from Phillips Industries and state public officials have reaffirmed their confidence in the submarket, citing its competitiveness and qualified labor as ideal for promoting new developments and investments. SiiLA Market Analytics data shows that occupancy of class A+, A, and B industrial spaces in Arteaga has increased by 52% over the last year. As of the end of 2022, the occupancy rate in this submarket was over 98%, indicating a market with high demand.

However, the occupancy rate in Arteaga is also linked to the limited supply of new inventory, which represents an opportunity for new investment projects. Phillips Industries' expansion demonstrates Coahuila's prominence as one of the states with the largest auto parts and vehicle assembly production, according to Coahuila Governor Miguel Riquelme Solís.

With over 100 years of experience, Phillips Industries designs and produces various automotive parts, including electrical and environmental components, piping, heating systems, and cutting-edge technological tools. In Mexico, its plant produces harnesses for tractor-trailers and trailers.

For more information and insights on Mexico's commercial real estate market, please visit SiiLA or write to contacto@siila.com.mx.