Vitro completes its financial plan with $100 million property sale

Vitro,  announced that it had  finalized the sale of real estate currently occupied by its subsidiary Vidriera  Mexico (Vimex) in Mexico City for US$100 million.

With this transaction, Vitro has reached its stated goal of raising more than  US$300 million before year-end 2006, which will be used to pay down holding

company debt and strengthen its financial position.

Under the terms of the transaction Vimex will have three years to transfer its  facilities to the new location in the industrial valley of Toluca Mexico, while Vitro  will continue to use the existing premises for the first two years at no cost.  Vitro’s CEO, Federico Sada, commented, “We continue to deliver on the  financial plan formulated during mid-2005 to establish Vitro as a company with lower cost of capital, long-term funds, higher cash-flow generation, and a solid path to growth. We are very grateful for everyone’s patience and support during  this process as we continue to deliver on our promises.”

600450 Vitro completes its financial plan with $100 million property sale

See more news about:

Others also read

Jumbo Glass: Bigger is Just the Beginning
Building design is constantly changing. Today, strict energy codes and ambitious designs are urging architects to evolve their designs, and manufacturers must provide solutions for these emerging challenges.
Innovative bird-friendly glass featuring Starphire glass among highlights of renovated Tropical Rainforest
National Aviary’s new bird habitat unveiled after extensive renovation.
Starphire glass enhances UV transmittance, vegetation in renovated Tropical Rainforest
Workers install tropical plants, trees under bird-friendly glass to prepare for reopening of prized National Aviary attraction.
Goldray’s laminated pattern on Starphire glass showcases colorful corporate design trend
Ultra-clear glass, color interlayers highlight Spencer Finch-designed panels at 1775 Tysons Blvd.
New Holtec International headquarters features glass fabricated by J.E. Berkowitz
J.E. Berkowitz announced the completion of Holtec International’s new corporate HQ on the company’s 50-acre Krishna P. Singh Technology Campus in Camden, New Jersey.
Vitro Architectural Glass to debut ACUITY low-iron glass, sample kit available for pre-order
New low-iron glass offers clarity, color fidelity upgrade over conventional clear glass.

From industry


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

Add new comment