German technology group Giesecke & Devrient (G&D) today unveiled a new production facility in Mexico City.
With this move, the organisation - a dominant player in the security technology sector - has taken the internationalisation of its operations another decisive step forward.
The facility, representing an investment of roughly $10 million, was formally opened by Bavarian Minister President Dr. Edmund Stoiber, who is currently on an official tour of Mexico and California. Stoiber is accompanied on this trip by a German business delegation comprising representatives from around 40 leading enterprises.
In establishing a new industrial complex in Mexico, G&D is responding to the increasing demand for security solutions in Central and South America. The new plant will produce mainly smart cards for telecommunications and payment applications, as well as counterfeit-proof identity documents. At just over 80 per cent of sales, the primary focus is on telecommunications business.
"Our customers in Central and South America increasingly expect more security in financial transactions and identification procedures. This is unlocking huge potential for growth. By expanding our capacities, we are creating the necessary preconditions to meet the growing demand for security solutions in South America. At the same time, we have again made significant progress in implementing G&D's internationalisation policy," commented Dr. Walter Schlebusch of G&D's Board of Directors.