Vitro Sells Interest in Vitrocrisa

Vitro is the owner of Vitro America, which is headquartered in Memphis. Vitro (NYSE: VTO) is one of the world's largest producers, fabricators and distributors of glass for contractors, architects and replacement windshields for automobiles.

The total cash inflow of $109 million is comprised of $80 from the equity sale, plus approximately $18 million of inter-company receivables and $11 million of inter-company debt.

Federico Sada, Vitro's CEO, said in a statement the company met two important goals with the sale.

"It provides us with capital to reduce the holding company debt and strengthen our financial position, and it allows us to devote the management's energies to the maintenance and development of our core businesses, flat glass and glass containers," he said. "This is another in a series of planned steps that will help us take Vitro into a new era."

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600450 Vitro Sells Interest in Vitrocrisa
Date: 27 June 2006

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