Glass packaging manufacturer Vitro approves to complete merger agreement for its FIC Regiomontano and Compañía Vidriera subsidiaries into Vitro on Jan. 1, 2014
Elyse Blye
SAN PEDRO GARZA GARCIA, Mexico
,
December 13, 2013
(press release)
–
San Pedro Garza García, Nuevo León, December 11, 2013.- Vitro S.A.B. de C.V. (BMV: VITROA), hereinafter “Vitro” or the “Company”, the leading glass producer in Mexico, reports that today it held an Extraordinary General Shareholders Meeting in which it was approved to complete the merger agreement for its subsidiaries FIC Regiomontano, S.A.P.I. de C.V. and Compañía Vidriera S.A. de C.V. into Vitro on January 1st 2014 at 12:00 p.m., according to the agenda.
Furthermore, the other agreements reached in the Extraordinary General Shareholders Meeting that took place on September 5th 2013 were ratified. This took place in order to specify the moment for the agreement’s implementation.
The merger allows Vitro to fulfill one of the commitments agreed with its creditor Fintech Advisory Ltd., under which the Company has ensured its viability as a going business and has strengthened its financial position.
Vitro, S.A.B. de C.V. (BMV: VITROA), is the leading glass manufacturer in Mexico and one of the world’s major glass companies, backed by more than 100 years of experience in the industry. Founded in 1909 in Monterrey, Mexico, the company currently has subsidiaries in the Americas, which offer quality products and reliable services to meet the needs of two different types of business: glass containers and flat glass. Companies of Vitro produce, process, distribute and market a wide range of glass articles which are part of the daily life of thousands of people. Vitro offers solutions for multiple markets including food, drinks, wines, liquors, cosmetics and pharmaceuticals, as well as the architectural and automotive. The company is also a supplier of raw materials, machinery and equipment for industrial use. As a socially responsible company, Vitro implements various initiatives to contribute to improving the quality of life of its employees, providing support to the communities where it has presence, preserving the environment and favoring an ethical and transparent management. For more information, please consult the website: http://www.vitro.com.
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.
