Vitro Announces that its Subsidiary in Spain is Filing for Insolvency Protection

San Pedro Garza Garcia, Nuevo Leon, Mexico, June 5, 2012 - Vitro S.A.B. de C.V. (“Vitro” or the “Company”) (BMV: VITROA) announces that its subsidiary in Spain, Vitro Cristalglass, S.

L. (“Vitro Cristalglass”) has started the process to filing for insolvency and requests the judicial declaration of Concurso, through the Commercial Courts of Madrid.This decision is the result of the current economic crisis, specifically in the construction industry, in European markets where Vitro Cristalglass conducts its business.In 2011, Vitro Cristalglass represented 4 percent of the consolidated sales of Vitro.Given that Vitro Cristalglass has operated at a loss since 2009, this will have a positive impact at the EBITDA line of US$ 10 to 15 million.

Vitro, S.A.B. de C.V. (BMV: VITROA), is the leading glass manufacturer in Mexico and one of the world’s major glass companies, backed by more than 100 years of experience in the industry. Founded in 1909 in Monterrey, Mexico, the company currently has subsidiaries in America and Europe, which offer quality products and reliable services to meet the needs of two different types of business: glass containers and flat glass. Companies of Vitro produce, process, distribute and market a wide range of glass articles which are part of the daily life of thousands of people. Vitro offers solutions for multiple markets including food, drinks, wines, liquors, cosmetics and pharmaceuticals, as well as the architectural and automotive. The company is also a supplier of raw materials, machinery and equipment for industrial use. As a socially responsible company, Vitro implements various initiatives to contribute to improving the quality of life of its employees, providing support to the communities where it has presence, preserving the environment and favoring an ethical and transparent management. For more information, please consult the website:

600450 Vitro Announces that its Subsidiary in Spain is Filing for Insolvency Protection
Date: 8 June 2012

See more news about:

Others also read

SOLARBAN 90 glass available on performance-tinted glasses from Vitro Architectural Glass (formerly PPG Glass).
Vitro has successfully concluded the acquisition of the flat glass business from PPG.
PPG announced that it has completed the sale of its flat glass manufacturing and glass coatings operations to Vitro S.A.B. de C.V.
Vitro announced that the Company’s shareholders approved the acquisition of the assets of PPG’s Flat Glass Business for USD $755 million.
PPG announced that Andre Kenstowicz has joined the flat glass marketing team as regional architectural manager for the Pacific Northwest, covering Washington, Oregon and Idaho.
Vitro, S.A.B. de C.V. , hereinafter “Vitro” or the “Company”, the leading glass producer in Mexico, announced the signing of a contract to acquire the assets of the flat glass business from PPG.

Add new comment