Home Depot Invests $50 million in Mexico, mostly in Acapulco

(Acapulco, NA 26 November) Yesterday Home Depot officially opened its expansive new facility in the extension of the Las Palmas shopping plaza in Acapulco Diamante, just in time to serve Christmas shoppers. The president of Home Depot-Mexico, Ricardo Saldívar Escajadillo, wearing the distinctive, orange Home Depot apron, cut the ribbon. He said that Home Depot had $600 million pesos ($50 million dollars) of investment in Mexico, counting the two stores now operating in Acapulco and one in Mexico City. The other Acapulco store is Home Depot’s first in Acapulco, on Avenida Cuauhtémoc, across the street from the offices housing the city government at Papagayo Park. It employs 100 persons.

The Diamante store involved an investment of $231 million pesos and will provide 100 more direct jobs. According to Mr. Saldívar, the multinational retailer opened its doors on the east side of Acapulco because of all the new construction and growth there, and the need for a reliable supplier of construction materials and home furnishings. He added that the store will supply state and local governments and offer as many as 20,000 different items to the general public. Mr. Saldívar is a graduate of Tecnológico de Monterrey and of Georgia Tech in engineering.