A. de C.V. (Viméxico) has been notified by the Prado Family members and Invergar Participaciones Inmobiliarias, S.L., that they are exercising their right and option to sale their 40 percent stake in the European joint venture Vitro Cristalglass, S.L. (Vitro Cristalglass).
Consistent with the terms of such notice, Viméxico is analyzing the alternatives to acquire these shares with due date September 10, 2008 in an estimated amount of $31 million Euros.
The commitment, which is described on our 20-F, is consistent with the terms established in the purchase agreement signed in May of 2001 when Vitro acquired 60 percent of the European company.
Vitro Cristalglass is part of Vitro’s Flat Glass business unit and is the industry leader in the manufacturing, distribution and marketing of specialty glass for the construction industry in Spain and Portugal. It is also currently participating in the French construction industry with its subsidiary Vitro Cristaglass 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. Additionally, it exports its products to several countries around the World. For more information, you can access Vitro’s Website at: http://www.vitro.com