YOFC inaugurated its new manufacturing base in Lagos de Moreno, Mexico, aiming to provide optical fiber and cables for the local telecom industry, creating 203 job opportunities. This marks a pivotal step in YOFC's global strategy, solidifying its leading position in the global optical fiber market.
EqualOcean has learned that Yangtze Optical Fibre and Cable Joint Stock Limited Company (referred to as "YOFC") has officially inaugurated its new manufacturing base in Lagos de Moreno, located in the northeastern part of Jalisco, Mexico. This factory, with a total investment of 341 million Mexican pesos (approximately 19 million USD) and covering an area of 19,515 square meters, is dedicated to providing high-quality optical fiber, optical cables, and related equipment for Mexico's telecommunications industry. Over the next two years, this facility is expected to create 203 valuable jobs for the local community, highlighting YOFC's commitment to promoting local economic development.
This factory is not only YOFC's first manufacturing base in Mexico but also a crucial part of its global expansion strategy. Previously, YOFC had established a sales office in Mexico to actively expand its market. The new factory in Lagos de Moreno will primarily serve the domestic market in Mexico, while YOFC also plans to extend its product reach to the entire North American and Latin American regions, further consolidating its leading position in the global optical fiber and cable market.
YOFC is a global leader in the supply of optical fiber preforms, optical fibers, and optical cables. The company focuses on the optical communication field, offering a full range of optical fibers, optical cables, and related products widely used in communication network construction. To expand its international market, YOFC has established production bases and subsidiaries in several countries and regions, including India, Indonesia, the United States, Brazil, Russia, and South Africa, and has built a global sales network through offices and agents. Additionally, YOFC collaborates with numerous international communication companies and renowned universities in strategic and research and development partnerships to drive technological innovation. With high-quality products and a global presence, YOFC has achieved significant success in the international market, becoming a key driver in the optical communication field.
Roberto Arechederra, Jalisco's Secretary of Economic Development, emphasized that the establishment of YOFC's new factory marks a milestone that will further strengthen Jalisco's position as a nearshore outsourcing center, especially in the high-tech industry sector.
According to the latest economic data, in the first quarter of 2024, foreign investment in Jalisco exceeded 593 million USD, making this western state the 9th highest in Mexico for attracting foreign direct investment during this period. Notably, Mexico's total foreign direct investment in the first quarter reached a record high, soaring to over 20.3 billion USD, an increase of nearly 1.7 billion USD compared to the same period in 2023, indicating a significant boost in economic vitality.