Volkswagen’s Acceleration, Tenaris’ Turnaround Support Veracruz Port Spending — Panjiva
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Volkswagen’s Acceleration, Tenaris’ Turnaround Support Veracruz Port Spending

Cons. Discr. - Autos 1255 Consumer Staples 818 Corp - Ports 922 Materials - Metals/Mining 803 Mexico 931 Mode - Containerized 1535 Mode - Seaborne 1853 U.S. 5418

The Mexican government will invest $2.6 billion in expanding the ports of Veracruz, Manzanillo and Progreso over the next five years. That follows a 7.9% rise in containerized freight handling through all Mexican ports in the past year, and comes as the U.S.-Mexico-Canada Agreement’s passage provides extra visibility for long-term planning. Much of the growth was due to a 24.6% expansion in exports to the U.S. via the Gulf Coast port of Veracruz. Major exporters through the port include Volkswagen, whose U.S.-bound shipments rose 68.7% year over year in the past 12 months, and H...

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