Mexican glass manufacturer Vitro will sell its Vancan and Plasticos Bosco subsidiaries by the end of 2004 as part of its strategy of disposing of non-core businesses. Vancan produces aluminum cans and…
Mexican glass manufacturer Vitro will sell its Vancan and Plasticos Bosco subsidiaries by the end of 2004 as part of its strategy of disposing of non-core businesses. Vancan produces aluminum cans and Plasticos Bosco manufactures plastic containers and plates. Market analysts say that through the sale of Bosco Vitro may raise between USD 25 million and USD 30 million, which will be used to reduce debt. Vitro owns Vancan through a 50/50 partnership with the US group Rexam Beverage Can of the Americas Inc. Vitro is planning to invest USD 125 million in 2004, including USD 60 million in its glass container business, USD 45 million in its glass sheet business and the rest in its Crisa crystal business. USD 400 million of Vitro debt comes due in 2004.