Vitro acquires Coca-Cola contract

Mexican glass company Grupo Vitro recently obtained syndicated credit of US$ 235 million which can be put towards debt cancellation (a Yankee bond of US$ 175million for May 2002) as well as to the acq…

Mexican glass company Grupo Vitro recently obtained syndicated credit of US$ 235 million which can be put towards debt cancellation (a Yankee bond of US$ 175million for May 2002) as well as to the acquisition of a new furnace for US$ 120 million ready for use in 18 months to two years. It also boasts a new 2-year contract with Coca-Cola“s leading bottling operation, CocaCola Enterprises (CCE), for the supply of bottles to northern America (and maybe Europe). The loan comes from HSBC and Citibank plus ABN AMRO, Bank of Montreal, Banamex, Banca Nazionale de Lavoro, JPMorgan-Chase, Credit Suisse First Boston and Bancomext. Vitro continues to rub the noses of rivals Saint Gobain USA, Consumers Glass and Anchor Glass Containers in the mud. Vitro will hope to post a 2001 turnover of over US$ 3 billion compared to last year“s US$ 2.857 billion.