GGD-93-53R: Published: Jul 2, 1993. Publicly Released: Jul 2, 1993.
- Full Report:
Pursuant to a congressional request, GAO provided information on the Mexican government's involvement in the Amerimex Maquiladora Fund (AMF). GAO noted that: (1) NAFINSA, the Mexican development bank for corporate modernization, is the only Mexican federal entity that has invested in funds that acquired an interest in U.S. companies; (2) AMF has purchased majority shares in two U.S. companies and plans to continue investing in U.S. companies; (3) AMF seeks to invest in U.S.-based companies that have low- to mid-technology manufacturing operations, annual sales of $10 million to $100 million, good growth, excellent management and sales teams, proven products, and labor components of 20 to 30 percent of the cost of goods sold; (4) at least 14,266 U.S. companies meet AMF investment criteria for annual sales; and (5) Inter American Holdings, another U.S. investment fund, acquired an interest in two U.S. companies, but there is no Mexican government investment.