German turbine components manufacturer Aerotech Peissenberg Corp. executed a joint venture (JV) with Mexican investment holding company Grupo Punto Alto.
Aerotech Peissenberg plans to build $267 million plant to manufacture turbine components in Hermosillo, Sonora.
The plant is already under construction over a three-hectare surface at the Hermosillo Norte industrial park, where it will manufacture parts for U.S-based aviation to energy company General Electric and Rolls Royce engines under the name of AT Engine Mexico.
German law firm TaylorWessing advised Aerotech Peissenberg on the transaction. Mexican peer Santamarina y Steta advised Grupo Punto Alto on the transaction.