Vitro, S.A. de C.V. recently announced that Vitro Plan, S.A. de C.V., one of the company's flat glass subsidiaries, signed a stock purchase agreement to acquire 60% of the outstanding shares of Spain's Cristalglass Vidrio Aislante, S.A., holding company of the Spanish Group Cristalglass. Cristalglass fabricates, distributes and sells flat glass for the construction industry. The company employs over 300 people and has an estimated 30% share of the Spanish markets where it has presence. Annual sales are close to US $60 million. Cristalglass has three fabrication facilities located in the cities of Camponaraya and Villadecanes, in the province of Leon, and in Fuenlabrada, in the outskirts of Madrid, as well as two distribution centers in the cities of La Coruna and Valencia. The transaction is expected to close by April 30, and is subject to certain closing conditions.
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