Vitro, S.A.B. de C.V. (BMV: VITROA), hereinafter “Vitro” or the “Company”, the leading glass producer in Mexico, announced the expansion of its production capacity of flat glass, through the construction of a new float glass furnace in the country, which it is estimated to become operational in 2017. This furnace will be added to the current capacity of three furnaces.
In addition to this expansion, the float glass furnace operating in Mexicali, will enter a repairing phase in mid-2016 that will also be used to expand its production capacity.
Net investment for the capacity expansion will be approximately USD $85 million, given that the company will take advantage of some equipment in good conditions from the float glass furnace that was closed in Mexico City in 2006.
This expansion is projected due to good future market perspectives that the Company sees in the automotive and construction industries in Mexico.
“This decision will enable us to support our customers’ growth in the automotive and construction segments in the coming years and to continue generating future value for our shareholders”, said Adrian Sada Cueva, CEO of Vitro.