Vitro to Invest $146 Million U.S. Dollars into
April 30, 2013
Mexican-based Vitro announced plans to invest more than $146 million
(1.777 billion pesos) back into the company to increase the melting
capacity in automotive glass, as well as other areas.
"The amount shall represent an increase of 65 percent with
respect to the investment achieved in 2012 and shall be directed
towards increasing the melting capacity in glass containers and
automotive glass, as well as to the application of a series of improvements
in our equipment and facilities in order to strengthen our leadership
in the market after overcoming this challenging period for the company,"
says Adrian Sada Gonzalez, chairman of the board.
Adrian Sada Cueva, CEO, says 89 percent of the budget will go to
operations in Mexico, mainly to increase the manufacturing capacity
of some of the furnaces and to improve and update the plants.
"These include the necessary activities required for the increase
in the manufacturing capacity of one of our furnaces, which produces
glass containers in the Queretaro plant, in order to transform it
into the largest of its kind in Latin America," the CEO says.
"[The money will also go to] the 75-percent capacity increase
of the manufacturing furnace of the glass plant in Bolivia and the
investment of an automotive pressing furnace, which will provide
a capacity increase. [We will also invest in helping our workforce
gain] new skills required for this challenging market," he
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