Glass Global.com
Top Story

Vitro Transaction approved by the Mexican Federal Antitrust Authorities

Vitro, S.A.B. de C.V. announced that the transaction to acquire in its entirety all the capital stock of the Mexican company Vitro AFG, S.A. de C.V. (Vitro AFG) by Vitro´s subsidiary Viméxico, S.A. de C.V. (Viméxico), has been approved by the Mexican Federal Antitrust Authorities.

As announced on July 24, 2007, the Company exercised its right to purchase its partner AFG Industries Inc. 50% stake for US$6 million. Vitro AFG owns a float glass manufacturing facility located in Mexicali, Baja California, México.

Vitro AFG was a 50/50 joint venture between Viméxico and AFG Industries, a subsidiary of the Japanese company Asahi Glass Co. Limited. The joint venture was established to supply the United States and Mexican construction markets with a wide range of flat glass products, from the traditional 2 mm clear glass to 12 mm thick glass. The joint venture began operations on November 18, 2003 with a co investment of approximately US$100 million.

"This transaction will significantly strengthen our market position, as we expecto too further benefit from the dynamic growth of the architectural glass market in México. The addition of this significant manufacturing capacity allows us to serve our customer´s requirements and exceed their expectations within México and abroad. Close to 78,000 tons per year of additional capacity of float glass will be dedicated to the Mexican market and exports", said Hugo Lara, President of Vitro´s Flat Glass Business Unit.

With this acquisition, Vitro has 3 float manufacturing facilities and 23 processing plants previously owned in Mexico, United States, Colombia, Spain and Portugal.

Vitro AFG is part of Vitro´s Flat Glass business unit focused on the manufacturing, processing and distribution of flat glass for the construction and automotive industry with annual sales in 2006 of US$1,176 million. Vitro´s Flat Glass business unit is the largest flat glass producer in México and an important player in Latin America, United States and Europe.

Vitro AFG employs 230 people and manufactures 155,000 tons per year of float glass for the construction market.


28.08.2007, Vitro

News material on the Site is copyright and belongs to the Company or to its third party news provider, and all rights are reserved. Any User who accesses such material may do so only for its own personal use, and the use of such material is at the sole risk of the User. Redistribution or other commercial exploitation of such news material is expressly prohibited. Where such news material is provided by a third party, each User agrees to observe and be bound by the specific terms of use applying to such news material. We do not represent or endorse the accuracy or reliability of any of the info contained in any news or external websites referred to in the news.
Search News
INFO
Your daily channel for international news upon the glass industry. We provide you with 7107 articles - (today 4). Get the news from 1004 different companies.
Category
News by language
GermanEnglishFrenchItalian
SpanishChineseRussianPortugese
CzechDutchFinnishPolish
Company Profile
This News has been established by one of our listed customers. Please click here to enter the full company profile.

More News

Please click here to read all news related to this company.
NEWSLETTER
Services
Advertisement
ISRA SURFACE VISION GmbH

Advertisement

| Feedback | Sitemap | Imprint | Privacy


None of this information may be reproduced in any way without any written consent from us.


0,3125