Velcro establishes operations in Uruguay.
Velcro Companies, the leading independent company in the global fastening industry, has opened a new production facility in Canelones, Uruguay, to support the company's growing business with industrial firms and retail consumers across Latin America.
Scott Filion, president of the Americas region for Velcro Companies, says: "This state-of-the-art manufacturing facility underscores our commitment to serving clients in the Mercosur region, which is an important source of growth for the company. We see excellent opportunities to reach customers in the personal care, transportation, medical and apparel sectors, building on our strong knowledge of these industries elsewhere in the world."
The opening of the Uruguay factory marks a significant expansion of Velcro Companies' global production capacity and follows the acquisition in June of Alfatex and Gevaert, two European specialty weaving companies.
Velcro Companies CEO Fraser Cameron says: "Over the past year, we have added to our global production capabilities, enabling us to be responsive to customers and bring innovative new products to the market quickly. The Uruguay factory is one of the largest capital investments Velcro Companies has made in recent years, and we believe it is one of the largest in Uruguay."
The new facility builds on the company's existing presence in the region. Velcro Companies has long had a sales, distribution and customer service center in Mexico City, Mexico, and in 2014 it acquired two companies in Brazil to facilitate its sales and distribution activity in the country.
Headquartered in Manchester, NH, Velcro also has manufacturing facilities in Canada, Mexico Spain, Belgium and China.
"The Uruguay factory will be a complete manufacturing facility for finished goods, not merely an assembly point for products sourced elsewhere," Filion adds. "It will enable us to develop and manufacture products tailored to the preferences of consumers and businesses in Latin America, which is a competitive advantage for us and a significant benefit for our customers."