EconomyFinancialVitro obtains a credit from BBVA for 70 million...

Vitro obtains a credit from BBVA for 70 million dollars to manufacture more containers at the Toluca plant

The Monterrey glass manufacturer Vitro signed a credit agreement with BBVA Mexico for an amount of 70 million dollars with a maturity of five years.

The company reported in a statement sent this Wednesday to the Mexican Stock Exchange (BMV) that the amount will be used to finance the new furnace for its packaging business located at the plant in Toluca, State of Mexico. The furnace will start operations in the first half of 2023.

The credit agreement was entered into by one of the company's subsidiaries, Vitro Envases. Vitro and some of its subsidiaries in Mexico and abroad signed as guarantors.

Adrián Sada Cueva, general director of the company, announced in October that the new oven will have the best technology for the manufacture of high-quality and sophisticated glass, which will allow the company to offer products with added value.

The production of glass containers has allowed the company to compensate for the drop in demand for glass for the automotive industry, which has failed to stabilize production volumes since the pandemic began in 2020.

In early June 2020, the Monterrey-based company announced the definitive closure of two automotive glass plants in the United States, with the aim of reducing costs in the face of the crisis caused by the coronavirus (COVID-19).

Vitro, founded in 1909 in Monterrey, Mexico, is one of the leading glass manufacturing companies in North America and one of the largest in the world.

Femsa signs agreement to buy Sigma Supply in the United States

The company made the purchase through its subsidiary Envoy Solutions, in a move that strengthens its distribution business in the United States.

Liverpool, Palacio and supermarkets return to pre-pandemic sales for the first time

Accumulated sales for the first quarter of 2022 amounted to 313.5 billion pesos, 7.1% more than the same period in 2019.

How do streaming platforms benefit cable companies like Megacable?

Raymundo Fernández Pendones, deputy CEO of the company, assures that the growth of video-on-demand platforms makes pay television more accessible than paying for several apps.

Vandalism 'disconnects' Megacable in six states of the country

Enrique Yamuni, CEO of Megacable, sees vandalism as a barrier to expanding connectivity coverage in the country, especially in Jalisco, Coahuila, Edomex, Querétaro, Guanajuato and Michoacán.

Grupo Posadas pays more than 174 million pesos to the SAT for differences in...

With the payment, the hotel company closes the pending commitments derived from an audit carried out by the SAT for fiscal year 2006.

More