Filtraglass
Falorni Tech Glass Melting Technology

Vitro unit to buy Cristalglass

Mexican glassmaker Vitro SA said its flat glass unit Vitro Plan has recently signed a stock purchase agreement to acquire 60% of the outstanding shares of Spain“s Cristalglass Vidrio Aislante SA. The…

Mexican glassmaker Vitro SA said its flat glass unit Vitro Plan has recently signed a stock purchase agreement to acquire 60% of the outstanding shares of Spain“s Cristalglass Vidrio Aislante SA. The transaction is expected to close 30 April. Financial terms were not disclosed. In a press release dated 4 April, Vitro said that Cristalglass Vidrio Aislante is the holding company of Spanish Group Cristalglass, which produces and distributes flat glass for the construction industry. The company has a 30% share of the Spanish market, with annual sales of about US$ 60 million. “Through this acquisition Grupo Vitro takes an important step toward establishing a position in the European market from which to grow and diversify,” chief executive Federico Sada said in the press release.

Sign up for free to the glassOnline.com daily newsletter

Subscribe now to our daily newsletter for full coverage of everything you need to know about the world glass industry!

We don't send spam! Read our Privacy Policy for more information.

Share this article
Related news