Vitro to Expand Flat Glass Production in Mexico
Vitro, S.A.B. de C.V. has announced plans to expand its flat glass production capacity through the construction of a new float glass furnace in Mexico. The furnace, which is expected to become operational in 2017, will be added to the current capacity of three furnaces. In addition to this expansion, the float glass furnace operating in Mexicali will enter a repair phase in mid-2016 that will also be used to expand its production capacity.
Net investment for the capacity expansion will be approximately $85 million, given that the company will take advantage of some equipment in good condition from a float glass furnace that was closed in Mexico City in 2006. This expansion is being undertaken due to good future market perspectives that the company sees in the automotive and construction industries in Mexico.
“This decision will enable us to support our customers’ growth in the automotive and construction segments in the coming years, and to continue generating future value for our shareholders,” said Adrian Sada Cueva, CEO.
For more information, visit www.vitro.com.