General Electric has inaugurated a new Regional Financial Center in Nuevo Leon, Mexico with the aim of enhancing efficiency and reducing its costs by 20% across Latin America.
The Fairfield, Connecticut-based multinational conglomerate invested an initial 10 million dollars in center, which will create 350 jobs in Nuevo Leon within the next three years and could create as many 1,000 jobs in the years to come.
GE’s financial operations in all Spanish-speaking countries of Latin America will be centralized at the new Regional Financial Center, said Raul Gallegos, director of GE Mexico, at the inauguration on November 27.
“We are implementing a model that enables the business to grow through the consolidation of a regional operations center where experts can connect effectively with teams from other countries throughout Latin America,” Gallegos said.
By consolidating its regional financial operations, including legal regulations and logistics requirements, at the new facility manned by specialist staff, GE aims to standardize and reduce its business processes, thus improving the quality and speed of its financial operations.
The new facility is located at the Neoris offices in the state capital of Monterrey, Info7 reports. It is the fourth such center to be opened by GE. The others are located in China, India and Eastern Europe.
GE has 18 plants in Mexico, where it began operations in 1929, including eight in the northern state of Nuevo Leon.
Nuevo Leon is set to end 2013 with record Foreign Direct Investment (FDI) of $3.6 billion USD, Mexican newspaper Milenio reports.