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Mexico Vitro mulls debt refinancing up to $150 mln
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Mexican glass maker Vitro said on Wednesday it was analyzing various forms of financing, including the possibility of a private bond placement for $150 million, to refinance other debt.
Vitro, which makes flat glass for the auto and construction industries, bottles for the beverage sector and glassware products, said in a statement the financing would be made via its North America subsidiary.
Separately, a Vitro spokesman said the company was also analyzing the viability of setting up a glass plant in China, which would be used as a springboard to access markets across Asia for the Monterrey-based company.
"We are analyzing the viability of installing a plant in China because some of our clients have gone and set up in that country," the spokesman said.
The plant would need an investment of between $10 million and $15 million and would make glassware and glass jugs for blenders and coffee makers, he said.
Almost 50 percent of Vitro's sales are in Mexico and another 40 percent in the United States. The rest are in Europe.
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June 24th, 2004
Source: Yahoo |
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