Dayco building new belt manufacturing facility in Mexico

Roseville, Michigan – Automotive and industrial parts manufacturer Dayco is building a new manufacturing plant in Mexico as part of a strategy to expand presence in North America.

In a 2 Nov statement, the US supplier said it was making an undisclosed “major investment” in building a new facility in San Luis Potosi in central Mexico, to produce “globally recognised” original equipment drive belts.

“This is an exciting strategic investment that allows us to expand Dayco’s presence in North America and subsequently, the company’s overall global footprint,” said John Kinnick, president global belt division.

“As a result, we will be even better placed to serve our valued customers and provide them with quality products at the right value.”

The new “high-tech” facility will be located in Parque Tres Nations, and is scheduled for completion in the first quarter of 2024, said Dayco without giving further details on capacity.

In a separate statement dated 29 Sept, the Michigan-based supplier said it had been acquired by US private equity firm Hidden Harbor.

Hidden Harbor Capital Partners, said Dayco, is specialised in building teams focused on execution.

“This is an important milestone for our business, and we are excited as we enter our next phase of growth with our new partners,” said Joel Wiegert, CEO of Dayco.

“Our partnership with Hidden Harbor will enable Dayco to have greater flexibility to deliver for our customers, supply chain partners,” he added.