BUENOS AIRES – Mexico’s Mabe plans to invest 89 million pesos ($9.8 million) to expand production of household appliances in Argentina, the Industry Ministry said.
Company executives presented the investment plan during a meeting with Industry Minister Debora Giorgi on Tuesday.
Mabe plans to increase production of refrigerators and freezers at its plant in San Luis, a province in central Argentina, the ministry said.
The Mexican company plans to start manufacturing an additional 80,000 units, pushing total annual output to 300,000 units.
Mabe will add 21 new models to its offerings, upgrade five models and create 100 direct and 190 indirect jobs in San Luis.
The Mexican company said it would also start manufacturing high-end appliances, such as washing machines, frost-free refrigerators and ranges with ceramic tops, in Argentina for General Electric.