Mexicans want European aerospace companies

Mexico City— Between 20 and 30 Mexican companies from the aerospace sector are planning to go shopping to Europe in 2013 to buy small companies hit by credit shortage and a decrease in military budgets there, Marcelo Funes, Chairman, Mexican Federation of Aerospace Industry, Federacion Mexicana de la Industria Aeroespacial (Femia), revealed. To such purpose, a committee has been formed, which has already raised between US$300 and US$350 million. However, the investment required for the total or partial purchase of the 40 European companies is estimated to be up to three times as much. Funes explained that 80% of the companies in Mexico’s aerospace cluster are exclusively devoted to manufacturing; 10% to providing maintenance services and the rest to aerospace engineering applications, most of them Mexican.