Mexican glass maker Vitro closed the sale of its plastics containers unit Envases Bosco for USD 10 million (EUR 7.72 million), it was reported on 5 May 2005.
An analyst with Mexican brokerage Santand…
Mexican glass maker Vitro closed the sale of its plastics containers unit Envases Bosco for USD 10 million (EUR 7.72 million), it was reported on 5 May 2005. An analyst with Mexican brokerage Santander-Serfin, Luis Miranda, said that Envases Bosco generated revenue of some USD 7.0 million (EUR 5.41 million) for Vitro in the 1Q 2005. The sale of Bosco is in line with Vitro“s strategy to divest non-core assets and to focus only on glass making, Miranda added. According to data from the Mexican Stock Exchange, Envases Bosco has generated some 1.3% of the total consolidated sales of Vitro. In a three year period, Vitro has sold all of its non-core assets that were not related to glass making for the total sum of USD 270 million (EUR 208.53 million). Vitro has used the proceeds to pay down debt.