A subsidiary of Mexico“s Vitro glass company, Vitro Vidrio Plano, expects to increase exports by 20% in 1997, according to a top company official.
“We expect to increase exports from Mexico from 50…
A subsidiary of Mexico“s Vitro glass company, Vitro Vidrio Plano, expects to increase exports by 20% in 1997, according to a top company official. “We expect to increase exports from Mexico from 50% of sales in 1996 to 60% of sales in 1997, mainly to South America and the Caribbean,” stated the director general of Vidrio Plano, Pablo Gonzalez Sada. In the first three quarters of 1996, Vidrio Plano“s exports totalled US$ 137 million, and the company forecasts exports of US$ 182 million for the year. Gonzalez Sada said 1997 exports are projected at US$ 218 million. Vidrio Plano“s total sales for the first three quarters equalled 4.157 billion pesos, 70% of it dollar-denominated. Vidro Plano, which has a Mexican plant that employs 8,125 workers, is exporting glass to Colombia to be processed for automobiles and architectural purposes at its Vetemco affiliate, of which Vidrio Plano gained a controlling interest earlier in 1996.