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BRP announces the first investment in Mexico with the USMCA

BRP announced the first productive investment in Mexico after the signing of the Treaty between Mexico, the United States and Canada (USMCA).

The Canadian company will invest $ 136 million in a new off-road vehicle production plant in Ciudad Juárez, Chihuahua.

The investment announcement comes on the second day of the entry into force of the USMCA, an agreement that replaced the North American Free Trade Agreement (NAFTA).

The plant will employ up to 1,000 people permanently, according to a statement it sent to the Toronto Stock Exchange.

“This expansion of BRP’s production facilities is intended to help keep pace with the growing demand for vehicles known as Can-Am side-by-side (SSV) registered in recent years,” said BRP.

He added that after a temporary slowdown due to Covid-19, retail sales increased by more than 35% in May compared to the previous year, and the trend continued in June.

BRP

“Despite the pandemic, demand for our products has remained strong and even exceeded last year’s figures for the same period,” said José Boisjoli, BPR president and CEO.

“Our continued innovation and constant growth in SSVs make this additional capacity necessary to meet our goal of achieving a 30% market share,” he added.

Site planning and construction are slated to begin in the coming months, and the plant is expected to be ready to operate in the fall of 2021.

“This new plant, combined with the company’s two off-road manufacturing facilities in Ciudad Juárez, will create positive operational synergies and efficiencies,” he said.

BRP is a world leader in the world of motor vehicles, propulsion systems and boats. Its industry product portfolio includes Ski-Doo and Lynx snowmobiles, Sea-Doo jet skis, Can-Am off-road and off-road vehicles, Alumacraft, Manitou, Quintrex, Stacer and Savage, Evinrude marine propulsion systems and Rotax, as well as Rotax engines for karts, motorcycles and recreational aircraft.

 

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