Vitro will build new glass containers plant in Brazil

Vitro, S.A.B. de C.V. (BMV: VITROA), hereinafter “Vitro” or the “Company”, the leading glass producer in Mexico, reports that it will invest nearly $90 million dollars for the construction of a new plant to manufacture glass containers in Brazil and serve the cosmetics, fragrances, and specialty segments.    The Company will strengthen its presence in the South American country with the highest per capita consumption of cosmetics, which is also one of the two largest markets in the world for this segment.

One of the main advantages of this investment is that a significant portion of its customers in said industry, to which Vitro has served for years from Mexico, have significant operations in the region.

 

“We expect that the new plant, which will be built with our own technology, starts operations in the second quarter of 2016. Meanwhile, we will continue exporting to South America from our plant in Toluca,” said Adrián Sada Cueva, CEO of Vitro.

 

“Our manufacturing presence in Brazil will help to consolidate our position as one of the leading players in the global market for cosmetics and fragrances, with a multi-regional presence that will serve our customers better,” added Sada.

 

“We are pleased with this announcement; it represents the opportunity to meet market needs and requirements even more timely, according to the dynamics of this industry. Our operations in Brazil will produce high quality glass containers, just as we do now from Mexico,” declared Shlomo Frymerman Konigsberg, CFT and Pharma Business VP at Vitro.

600450 Vitro will build new glass containers plant in Brazil glassonweb.com
Date: 18 August 2014
Source: www.vitro.com

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