Vitro announces sale of stake in Vitromatic

Vitro has announced that it has received authorization from the necessary authorities to go through with its sale of a 51% stake in Vitromatic, which produces and distributes household appliances in Mexico.

The stake went to Whirlpool Corporation for US$150 million in case and the agreement that Whirpool would assume US$163 million in debt. The transaction was first announced in February and is in line with Vitro's strategy to focus its money and energy on glass-making operations. Vitromatic is based in Monterrey and has five plants with 6,000 employees. It sells appliances under the brand names Acros, Supermatic, Crolls and Whirlpool.

600450 Vitro announces sale of stake in Vitromatic
Date: 10 July 2002
Source: Northernlight

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