Spain’s AMEC is set to create some noise in America.
Donald Trump’s tariff threats to all imports willing to boost local production has given a bad taste to Spain’s industry. Figures from the Spanish Economy Office state a 12.5% increase of goods sold to the US during the first two quarters this year, almost 3% above national average.
“Sales to USA have risen even more, close to 20%”, said Joan Tristany, chair of The Association of the Internationalized Industrial Enterprises (AMEC in Spanish), which includes 350 companies with a vast majority being mid-sized businesses representing 8.5 million euros of gross sales. Among them, Fluidra, Cosentino, Omron and Roca stand out. “There is no excessive concern from companies towards Trump’s tariff policies. There is a strong agreement among all companies and experts that one of the most jeopardized would be the US, since prices would rise on majority of their products”, mentioned Joan in a press briefing to introduce a strength index for global trade.
The Spanish trade association AMEC settles details of the first market plan they will design,directed to America specially after trade opportunities boost they have detected in American soil. “In reality, we have 46 companies with subsidiaries in USA and there are three associates confirming they will launch this year.” Tristany points out the field with more opportunities is the processed food industry, “fundamentally related with packaging and food transformation, per se,” and infrastructure. On a second term, Tristany highlights other small and mid-sized companies have a great growth margin which rely on construction companies, “especially those related with infrastructure management or big city traffic, due to the high number of deals their landing”.
Exports from industrial companies have increased 20% during Q1 and Q2, according to AMEC.
This interest from mid-sized companies joins those expressed by large construction affiliates through Seopan for the infrastructure plan announced by Donald Trump. The trade association AMEC has identified an important portfolio of works within a plan that initially accounted with one billion US dollars, now slimmed down to half. Among them, the New York subway extension stands out, valued at 14 million dollars. Moreover, the reconstruction of the Northeast railway between Newark and New York and the high speed line between Houston and Dallas/Ft. Worth (Texas), both budgeted at 12 million dollars each. Other expected actions are the reconstructions of 15 highway bridges from I-95 in Philadelphia, valued at 8 million dollars, The NexGen program for modernizing air space control, valued at 10 million dollars; the Atlantic Coast pipeline of 4.5 million dollars and the Seattle airport extension, with works over 2 million dollars. Of the above mentioned, three companies (ACS, Ferrovial and OHL) have a running start. The first is the single largest US private contractor, the second has a strong presence in grants and the third is very well established in New York and Miami.