Advantech and Interlatin Formed a Joint Venture Subsidiary in Mexico
Advantech (stock code: 2395), a global leader in Industrial IoT, announced the establishment of a joint venture subsidiary in Mexico with Advantech’s major channel partner Interlatin, S. de R.L. de C.V.. Advantech and Interlatin will hold 60% and 40% stakes respectively of the new subsidiary. The joint venture will be effective from July 1, 2020 and new offices will be set up in Guadalajara and Mexico City.
Mr. Vincent Chang, Senior Director and Sales General Manager of AIntercon region, Industrial IoT Group of Advantech commented, “As an open market, Mexico joined the Asia-Pacific Economic Cooperation (APEC) forum in 1993 and in recent years Mexico has signed free trade agreements with several countries and benefits from the US-Mexico tariff preference, which encourages the establishment of manufacturing centers for many corporations. The trend of setting up manufacturing centers has led to business opportunities for smart manufacturing, Industry 4.0, and digital transformation. What’s more, due to the advantage of a common language, Mexico has become Advantech’s best springboard for entering Latin American markets.”
Vincent Chang further explained that Advantech chose Interlatin as its joint venture partner due to several reasons. “We hope to largely expand our businesses in Mexico by benefiting from Interlatin’s local connections and resources, and its knowledge of electronic manufacturing, automotive, and transportation systems, as well as its extensive experience in serving big local customers and large projects. Moreover, through this joint venture, we would like to cultivate Advantech Mexico’s brand localization, as well as take advantage of IoT trends in Latin America to venture into industrial applications such as smart cities and smart retail.”
Mr. Alejandro Carrillo, CEO of Interlatin, has also commented on this joint venture. “Interlatin has been Advantech’s channel partner since 2010 and has a long dedicated track record in industrial automation in Mexico. Due to the rise of IoT in recent years, Interlatin proactively helps customers to expand their Industry 4.0 and digital transformation businesses, which echoes with Advantech’s strategies and therefore, we decided to further cooperate with them. Besides, Advantech, being a global company, will integrate Mexican industries into the global value chain by using its global sales and marketing channels to meet ever-changing customer demands with solutions for many industrial applications,” said Mr. Carrillo.
Alvaro Romo, Managing Director of Advantech Mexico also said, “Advantech Mexico will focus on solutions for industries such as automotive, semi-conductor manufacturing, environment and energy, transportation, and education. Currently, Interlatin will be transferring part of their employees to the newly established joint venture subsidiary, which will later start recruiting new staff members for sales and marketing departments. In the long term, we will target to establish a fully functional subsidiary which has departments such as sales, marketing, technical support, logistics, finance, human resources and customer services.”