Effects of sale unclear

It is too early to tell how a recent buyout of automotive glass fabricator Vitro America LLC will affect the Grenada factory, officials said.

Vitro America LLC and three other units of Mexican glass maker Vitro S.A.B. were recently purchased by American Glass Enterprises LLC, an affiliate of private-equity firm Sun Capital Partners Inc., based in Boca Raton, Fla. 

According to Grenada County Economic Development District Executive Director Pablo Diaz, the EDD and other local officials are currently working with the state to understand what the impact of this buyout is and how it could affect the 139 jobs at the local plant.

“I think the plant Vitro America has here in Grenada is a well-performing company, and it’s a little too early to tell what will happen,” he said. “We are working with the state to get in direct contact with the company that bought Vitro to see what can do to help them.” 

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600450 Effects of sale unclear glassonweb.com
Date: 6 July 2011
Source: www.eclassifiedsnetwork.com

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