Vitro signs new contract with Constellation Brands

Vitro, S.A.B. de C.V. (BMV: VITROA), hereinafter “Vitro” or the “Company”, the leading glass producer in Mexico, reports that it has signed a new contract with his client Constellation Brands to produce 7,300 million beer bottles for export, the estimated sales value of the transaction is $950 million dollars during the life of the contract.    The contract will be in place over the next seven years and will triple the current volume of Vitro’s production for the beer market.

As a result, the Company will invest about $100 million dollars for the construction of a new furnace at its Monterrey plant. “The new furnace will be built using our own technology, developed by Fabricación de Máquinas, and will begin operations within 18 months. During that time, we will manufacture in Toluca and Querétaro to meet these new commitments; both sites will continue producing for Constellation Brands once the new Monterrey furnace starts working,” stated Adrián Sada Cueva, CEO of Vitro.

 

“With this project, Vitro reaffirms its leadership in the market and strengthens the strategic position it has built. Our glass packaging production system is now one of the best and most extensive of the continent,” added Sada.

 

Constellation Brands began its business relationship with Vitro in the wine industry, where it has consolidated a clear leadership position for decades in the American market. “We thank our partners for their confidence in Vitro. We are satisfied to see that our relationship is now expanding to the beer market,” said Jesús Zubiría Luque, Soda-Lime Glass Containers VP at Vitro.

600450 Vitro signs new contract with Constellation Brands glassonweb.com

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