Mexico rattled by Modine plant closure, Asia shift

Newswire

By Brian Winter MEXICO CITY, June 17 (Reuters) - When Modine Manufacturing Co. said on Thursday it would close its Mexico plant and shift some production to Asia, it struck at the heart of Mexicans' fears for their economic future -- that jobs will be moved out of the country. Mexico overhauled its economy in the last two decades to focus on shipping low-cost goods to the United States, but the country has lost market share in recent years to Asia where labor costs are even cheaper, ...

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