Vitro and its Joint Venture Partners Agree on Extended Payment Period for Purchase of Vitro Cristalglass Shares

Vitro, S.A.B. de C.V. (NYSE: VTO; BMV: VITROA) announced today that its subsidiary Viméxico, S.A. de C.

V. (Viméxico), in conjunction with the Prado Family members and Invergar Participaciones Inmobiliarias, S.L., the joint venture partners in its Spanish subsidiary Vitro Cristalglass, S.L. (Vitro Cristalglass), agreed to extend distribution of payment for the purchase by Vimexico of its joint venture partners’ 40 percent stake in Vitro Cristalglass through the remainder of 2009.During the third quarter of 2008, Viméxico made a partial payment to its joint venture partners of approximately 4 million Euros.The agreement to extend the payment period for its joint venture partners’ interest in Vitro Cristalglass is consistent with a number of actions Vitro has undertaken to strengthen its balance sheet and enhance liquidity.Vitro Cristalglass, part of Vitro’s Flat Glass business unit, is the industry leader in the manufacturing, distribution and marketing of specialty glass for the construction industry in Spain and Portugal.It also participates in the French construction industry through its subsidiary, Vitro Cristalglass France.

Vitro, S.A.B. de C.V. (BMV: VITROA; NYSE: VTO), is one of the largest glass manufacturers in the world. Through our subsidiary companies we offer products with the highest quality standards and reliable services to satisfy the needs of two distinct business sectors: glass containers and flat glass. Our manufacturing facilities produce, process, distribute and sell a wide range of glass products that offer excellent solutions to multiple industries that include: wine, beer, cosmetic, pharmaceutical, food and beverage, as well as the automotive and construction industry. Also, we supply raw materials, machinery and industrial equipment to different industries. We constantly strive to improve the quality of life for our employees as well as the communities in which we do business by generating employment and economic prosperity thanks to our permanent focus on quality and continuous improvement as well as consistent efforts to promote sustainable development. Our World Headquarters are located in Monterrey, Mexico where Vitro was founded in 1909 and now embarks major facilities and a broad distribution network in ten countries in the Americas and Europe. For more information, you can access Vitro’s Website at:

600450 Vitro and its Joint Venture Partners Agree on Extended Payment Period for Purchase of Vitro Cristalglass Shares

See more news about:

Others also read

SOLARBAN 60 STARPHIRE glass supports unique forested atmosphere inside new glass-domed headquarters.
Current president Richard Beuke set to retire on March 31, 2019.
Vitro announces that after a distinguished career in the industry, Richard Beuke has taken the decision to retire effective March 31st , 2019.
Vitro Glass-commissioned survey first to gauge general contractors’ demands, expectations of glazing contractors, glass fabricators and glass manufacturers.
Glass with bird-friendly pattern, solar control capabilities help land top building award.
Low-e glass helps maximize performance of unitized curtain wall system.

From industry


Vitro Architectural Glass (Formerly PPG Glass)
Vitro Architectural Glass (Formerly PPG Glass)

Add new comment