30 October 2023
Sumitomo Electric Establishes a Manufacturing Subsidiary in Mexico for High-Functionality Electric Wires and Wiring Materials
Sumitomo Electric Industries, Ltd. has established Judd Wire Mexico, S.A. de C.V. (JMEX), a subsidiary focused on the manufacturing of tab leads for automotive lithium-ion batteries, as well as high-functionality and high heat-resistant electric wires.
On September 14th, an investment project announcement ceremony was held by the Economic Development Bureau of the state government of Aguascalientes, Mexico, at the building of the state government, where Sumitomo Electric announced the establishment of JMEX and its business plans. At the ceremony, the governor of the state, María Teresa Jiménez Esquivel, said “I am very pleased that 300 jobs will be created. Our state was selected for its good public safety, and we will continue to make further improvements in the future.” Manuel Alejandro Gonzalez Martínez, Secretary of Economic Development, Science and Technology, said, “We will support JMEX recruitment through our job fair and other means.”
The establishment of JMEX is attributed to the significant demand for high-functionality electric wires and wiring materials expected in North America due to the advancement of CASE* in the automotive and mobility fields. We aim to contribute to the advancement of CASE and increase our presence in the North American market.
*CASE: A term for the trends in the automotive industry; an acronym for Connected, Autonomous, Shared, and Electric
■Outline of the new company
|Company name|| Judd Wire Mexico S.A. de C.V.
(currently under registration)
|Establishment date||November 2022|
|Capital||33.4 million USD(Scheduled for June 2024)|
|Investment ratio|| Sumitomo Electric: 99%
Sumitomo Electric U.S.A. Holdings, Inc.
(100% subsidiary of Sumitomo Electric): 1%
|Business||Manufacture of high-functionality electric wires/wiring materials|
|Approx. 300 (by the end of 2025)|
|Start of operation||June 2025|
Participants in the ceremony (left photo, from left)
・Deputy Minister of Investment for Economic Development, Tagosam Salazar Imamura
・Congresswoman Alma Hilda Medina Macías
・President of Judd Wire Mexico, S.A. de C.V., Fuminobu Furukawa
・Governor Maria Teresa Jimenez Esquivel
・Minister of Investment for Economic Development, Manuel Alejandro González Martínez
・General Manager of Judd Wire Mexico, S.A. de C.V., Satoshi Shukushima
・Vesta Regional VP, Adalberto Ortega Chávez