Mexico's Vitro Looks at Possible China Investment
June 20, 2001
Mexican glassmaker Grupo Vitro is negotiating a possible investment in China to boost its presence in Asia, its chief executive, Federico Sada, said. Sada told Reuters recently that Vitro was looking at making a "relatively large" investment in a facility in a province north of Shanghai, but gave no further details. "We are still in negotiations. It would be 60% for glass exports and 40% for China's national market," he said of the project. "That would give us a competitive advantage in all Asia to position ourselves in other countries," said Sada, who last week accompanied President Vicente Fox on a tour of China, Japan and South Korea.