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

Date: 19 January 2009
Source: Vitro

Date: 19 January 2009

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: http://www.vitro.com

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

See more news about:

Others also read

Vitro Architectural Glass has added to its digital tool collection a new tool to help architects identify the best glass products to achieve their aesthetic and performance goals for their next project.
The unique adaptive reuse of Pittsburgh’s RIDC Mill 19 features windows with Solarban® 60 Glass and skylights with Solarban® 70 Glass.
Reflecting the ocean, Solarban® R100 Solarblue® Glass contributes to Daytona Beach’s post hurricane revival with new corporate mid-rise.
Vitro Architectural Glass is pleased to announce that its Solarban® 60 glass was selected by the GSA for the Powell Courthouse and Annex renovations.
In this role, Diez will develop and implement global marketing efforts and lead four multi-regional teams in North America.
Vitro Architectural Glass unveils Sungate ThermL™, a new low-e coating for one-inch IGUs, boosting U-values when combined with Solarban® on the second surface.

Add new comment

From industry

NEWS RELATED PRODUCTS

Vitro Architectural Glass
Vitro Architectural Glass
Vitro Architectural Glass
Vitro Architectural Glass
Vitro Architectural Glass
Vitro Architectural Glass