Could you outline the development of the company?
Ours has been a family-owned business since 1963. My father established the company in Mexico City and now we have three manufacturing locations. Because of company growth, we have expanded on a year-to-year basis. Our operations started out almost exclusively in Mexico, but over the years, we looked at the export markets. Originally, it was Central and South America. Our operations in Central America are very limited. One of the major players is Costa Rica, where there is a good installed base for our products. After that, we have a presence with warehouses and inventory in Argentina and Brazil, with sister companies. We have warehouses, and have established our companies there. From those two countries, we supply the internal needs of these markets and we export to Colombia, Peru, and somewhat to Bolivia, Uruguay, and Paraguay. However, the three manufacturing facilities are in Mexico City. We produce diverse products and export them. We import raw materials into Mexico and employ local laborers and all our equipment here in Mexico. Válvulas Worcester de México has also been exporting to Asia for about 10 years. We have representation in Thailand and we have made sales to the Chinese market for the past three years, as well as in Singapore, Malaysia, and Thailand. We do special applications, such as cryogenic values, and also nuclear applications.
How much of your production do you export?
Only 25% of our established base here is for exports, with 75% destined for the local market. Fortunately, we retain a solid market share in Mexico of 60%-65%.
What opportunities will the reforms bring to the Mexican economy, and particularly to your company?
There is increased potential for multinational companies to establish operations in Mexico. We are now in round zero of the energy reforms, and there are about 20 companies playing an important role. I hope that the government provides a well-established base that renders the Mexican market attractive for companies looking to invest. Válvulas Worcester and other well-established Mexican companies stand to benefit most. We also must take into consideration the joint ventures that we will be able to realize with companies coming here.
How are you positioning yourself as a key partner in the country?
Válvulas Worcester de México has a very good distribution network with 45 distributors throughout the Mexican Republic. Millions of our valves have been installed, and companies coming to Mexico know that they can rely on a local partner with extensive manufacturing facilities and an experienced workforce. We have engaged in a wide range of industries ranging from oil and gas to chemicals and petrochemicals, among others. Companies coming here can comfortably depend on our knowledge.
Could you tell us about Válvulas Worcester plans for expansion?
We are set for expansion, but mainly in terms of product range, by adding automation, special valves, metal to metal, and products required by Mexico's future oil and gas industry.
What are your expectations for 2015?
We expect to post growth of between 12%-15% on the previous year. Experience leaves us confident that the third year of an administration sees investment, and we are optimistic that 2015 will be dynamic. Of course, if everything goes well and we see key players establishing themselves here, multinational companies will need to hire many people. Meanwhile, certain states will see further grow than others, such as Veracruz, Tamaulipas, and Nuevo León.