Mexico Judge Approves Vitro Reorganization
February 7, 2012
A judge for the Fourth District Civil and Labor Matters in Monterrey, Mexico, has issued a final ruling approving Vitro’s restructuring plan, according to a release from the company. The ruling comes after several months of bankruptcy proceedings for the company both in the United States and Mexico.
“We are very pleased with this ruling, which undoubtedly is a turning point in Vitro’s more than century-old history,” says Hugo A. Lara García, Vitro’s chief executive officer. “We are sure that our clients, suppliers, our more than 17,300 workers and the communities where we are located, will share our excitement about this ruling. We will continue to work diligently, as we have for the past months, to be ready to execute the plan as soon as possible.”
Subscribe to AGRR™ Magazine.
Subscribe to receive the free e-newsletter.