Home improvement retailer Lowe's said Wednesday it will open three to five stores in Monterrey, Mexico in 2009, representing an investment of $18 million to $20 million per store.
Lowe's said the stores will create up to 800 jobs in the area. The company has established an office in Monterrey, led by Francisco Fernandez, vice president of Lowe's - Mexico. Fernandez will be responsible for managing Lowe's entry into Mexico as well as ongoing operations in the country.
Fernandez joined Lowe's in 2002, having spent seven years with Total Home (Alfa Group) in Monterrey.
Lowe's currently operates about 1,350 retail stores in the United States and is on track with plans to open six to 10 stores in the greater Toronto area beginning in the fall of this year.