MWM, American engine factory, Honda, automobile giant, and L'Oreal, announced the closure of their factories in Argentina and installation in Brazil.
On the morning of this day, November 6, Bolsonaro informed that two multinationals are going to transfer their facilities to Brazil. The companies mentioned by the president are the giants Honda and L'Oréal. In August of this year, another multinational, MWM, recognized for the manufacture of its diesel engines, also informed that it will close its factory in Córdoba, Argentina. and transfer all production to Brazil, more precisely to the region of Jurubatuba, south of São Paulo.
The president cites a “new investor confidence” in the country that will help create new jobs. After the repercussion of the news, Bolsonaro deleted the publication.
Honda and L'Oreal have denied that they will close their factories in the neighboring country. The MWM Argentina engine factory, on the other hand, reported that it ended its operations in Córdoba last month, but stressed that the decision has nothing to do with the victory of Kirchnerism.
https://twitter.com/jairbolsonaro/status/1192005206822838274
O group Japan reported in August that it will stop producing cars at its factory in Argentina from 2020, focusing the local unit only on motorcycle assembly
"Aiming to strengthen the structure of the automobile business, given the abrupt changes in the automotive industry around the world, Honda has sought to strengthen interregional coordination and collaboration, optimizing the allocation and production capacity of automobiles globally," it said in a statement.
The Honda Argentina unit has a production capacity of 30 car units per year and employs XNUMX employees.
L'Oréal, world leader in the cosmetics sector, is transferring the entire production of the factory in Argentina to its unit in São Paulo.
The operation, which began three months ago, should be completed by the end of this year. There will be between 30 million and 35 million more products being manufactured annually at the São Paulo unit, which already produces around 200 million units.
Uruguay and Argentina are the only countries in Latin America where L'Oréal is not growing. With the closure of the plant in Argentina, the company will have a plant in three countries on the continent: Brazil, Chile and Mexico.
Brazil already has the most competitive production of the three, and should increase its exports, which today represent 10% of sales. According to the president of L'Oréal in Brazil, Frank Ferlaino, even with the devalued weight and transport costs, production in São Paulo will be more competitive.
