Shareholders of Vitro SA approved a MXN 550 million (USD 50 million) capital increase on 27 September 2006, the company said in a press release.
The Monterrey-based Mexican glassmaker said it will is…
Shareholders of Vitro SA approved a MXN 550 million (USD 50 million) capital increase on 27 September 2006, the company said in a press release. The Monterrey-based Mexican glassmaker said it will issue about 62.9 million new shares at MXN 8.75 a share, giving first option to buy the new shares to existing shareholders. “We continue to progress in our strategy to focus on glass, taking the necessary actions to strengthen our financial position”, Vitro said. Vitro has sold a number of assets in recent years, which include its glassware division, enabling the company to concentrate on flat glass and glass containers.